Page 58 - P6 Slide Taxation - Lecture Day 3 - VAT Part 1
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Income from Employment
Fringe Benefits
• Fringe benefits are payments by employers to
employees usually in form other than cash.
• The taxable value of the benefit is included in GI as a
special inclusion.
• An allowance or advance paid by a principal as
defined excluding the amount spent for business
purposes is included in taxable income.
• The cash equivalent of the fringe benefit is included
in GI.
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