Asked by Anonymous
Which amount (a or b) should be reported as the taxable benefits for a staff staying in a company-owned property for free?
a) The actual rental of $18,000 (without GST) paid by staff's department to Housing department via inter-department billing
b) The AV of the apartment is $14,400
Background:
1. The property is owned by the company and managed by the Office of Housing. The staff's department pays the rental without GST to the Office of Housing via inter-department charging. Both departments are self-funded business units.
2. Staff does not need to pay any.
Appreciate your professional advice!
a) The actual rental of $18,000 (without GST) paid by staff's department to Housing department via inter-department billing
b) The AV of the apartment is $14,400
Background:
1. The property is owned by the company and managed by the Office of Housing. The staff's department pays the rental without GST to the Office of Housing via inter-department charging. Both departments are self-funded business units.
2. Staff does not need to pay any.
Appreciate your professional advice!
52 views
