2.1.3 Assessable earnings for income tax
According to the Income Tax Act Cap 340, an individual's employment income is a combination of cash remuneration received, such as wages or salary, and any benefits in kind (BIK) provided, such as, private use of a motor vehicle, provision of domestic servants, or provision of residential accommodation.
The following list is a representation of employment income:
• amount of private or personal expenditure discharged or reimbursed by the employer (pecuniary liabilities)
• the value of any BIK provided by or on behalf of the employer
• any amount in compensation of termination of employment
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