271. Cash vouchers, non-cash vouchers and credit tokens.

The cash equivalent of the benefit of a cash voucher provided for an employee by reason of the employment is to be treated as earnings from the employment for the tax year in which the voucher is received by the employee1.

A 'cash voucher' means a voucher, stamp or similar document capable of being exchanged for a sum of money which is:


    (1)     greater than;


    (2)     equal to; or


    (3)     not substantially less than,

the expense incurred by the person at whose cost the voucher, stamp or similar document is provided2.

The cash equivalent is the sum of money for which the