Page 75 - P6 Slide Taxation - Lecture Day 3 - VAT Part 1

Income from Employment

Fringe Benefit

• Use of sundry assets. page 372

• When an employee receives the use of an asset free of

charge or for a consideration that is less than the cash

equivalent for private use.

• The benefit depends on whether the asset is leased or

owned:

• If leased=rental paid by employer

• If it is owned=15%p.a multiplied by the lesser of cost the

to the employer and market value at the start of the

period of use.

• Multiplied by the number of months used divided by 12.

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