Determination of Excess De Minimis

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Ash

Cards (3)

  • Alex, a private employee who is paid P600 daily rate, receives the following benefits:

    Monetized unused VLs - 9 days
    Monetized unused SLs - 9 days
    Medical assistance - P7,000
    Rice subsidy (P2,500/month) - P30,000
    Clothing allowance - P9,000
    Laundry allowance - P6,000

    Determine the taxable de minimis benefits.
    Answer: P16,800
  • Hazel, a government rank and file employee, received the following benefits:
    Monetized unused VLs (10 days) - P6,000
    Monetized unused SLs (15 days) - P9,000
    Uniform allowance - P5,000
    Laundry allowance - P4,800
    Determine the amount to be included in other benefits.
    Answer: P1,200
  • Professor Acoba was one of the Hall of Fame awardees of Enyu University. He was granted P25,000 cash as loyalty award for his 30 years of service. He was also given P10,000 Christmas gift and an additional P10,000 gift during the institution's Founding Day Anniversary. Besides, he was also given free lunch meals with a total value of P15,000 during the same year.
    Compute the total taxable de minimis benefits.
    Answer: P55,000
    Assume Professor Acoba is a managerial employee, what is the treatment for the excess de minimis?
    Answer: Fringe benefit subject to FBT