Preheat Oven: Preheat the oven to 356ºF (180ºC) fan-forced.
Grease Tin: Grease an 8-inch round baking tin with butter and line with parchment paper. Note: For non-stick pans, line the base with parchment paper and grease just the sides with butter and dust with flour for smooth cake sides. Set aside.
Dry Ingredients: In a medium size mixing bowl, whisk together the flour, baking powder and salt. Set aside.
Beat Sugar, Oil, and Eggs: In a large bowl, use an electric mixer to beat the sugar, oil, and eggs together for 1 minute.
Add Milk and Vanilla: Continue by pouring in the milk and vanilla extract, then beat for an additional 20 seconds.
Combine: Add the dry flour mixture into the wet mixture and beat for 15-20 seconds until incorporated and smooth. Do not over-beat.
Transfer to Tin: Pour the batter into greased tin, smoothing out the top.
Bake: Bake for 30-35 minutes or until a toothpick inserted into the middle comes out clean or just with a few moist crumbs.
Cool: Remove from the oven and let the cake cool in the tin for 10 minutes. Transfer the cake to a wire rack to cool completely before adding the icing.
Powdered Sugar: Sift powdered sugar into a medium-sized bowl.
Mix: Add milk and whisk until thick and smooth. If too thick, use a rubber spatula for easier mixing.
Apply to Cake: Spread the icing over the cooled cake. Let it set for 30 minutes before slicing and serving. Enjoy!