ACCY4204 Business Taxation Assessment 2 2026 | Open Polytechnic

ACCY4204 Business Taxation Assessment 2

Weighting 

30% 

Learning outcomes

1 Calculate tax data to support the development of tax returns.
2 Use tax data to support the development of tax returns for a business entity.

Instructions

Complete and submit your assessment according to the Open Polytechnic's Assessments web page. This includes information on academic integrity, formatting, word limits and referencing.

Include your name, student number and the assessment number. Number your pages.

Submission

• Submit your assessment once you have completed all tasks.
• Submit your work through your iQualify course.
• Emailed assessments will not be accepted.
• You will receive an automated notice advising you of your successful submission.

By submitting your assessment, you confirm that it is your own, original work.

ACCY4204 ASSESSMENT 2

Task 1

For each of the following questions, please identify if the transaction should be:

• subject to FBT
• not subject to FBT.
• Explain your chosen answer. 

Note:A full sentence for each question is required. 

1.An IT company provides computer hardware valued at $950 to its employees.
2.A company has a staff function at a local eatery to celebrate exceeding performance targets, costing $1,850.
3.An employee has unlimited use of a Nissan motor vehicle provided by his employer.
4.An employee is paid a salary of $2,000 each month.
5.An employee receives a restaurant voucher of $600 as recognition for her hard work.
6.An employee receives a cash gift valued at $350 as recognition of her hard work.
7.An employee has the use of a work-related vehicle during work hours. She is also approved to use the vehicle to travel to and from work.
8.An employee retires and the company gives him a bike, which cost them $2100. It was the only benefit he received during the quarter.
9.Instead of paying a tool allowance, an employer provides an employee with tools worth $550. (Task 1 total 27 marks) 

Task 2

For each of the independent situations below, please calculate the taxable value of the benefit for the quarter ended 31 March 2025 and enter your answer in the column provided, with working details of the calculation where applicable. You may assume that in each instance it is the only benefit that is provided. Include a zero (0) balance and a brief reason for any instances that are not subject to FBT.

(Note: You do not need to calculate the FBT payable). Your calculations should be based on 90 days in the quarter ended 31 March 2025.