ACCOUNTING

Subdecks (4)

Cards (122)

  • fixed or variable allowances
    • allowances and other privileges given to the employee for the benefit of the employer are typically exempt from taxation
    • benefits given to managerial or supervisory employees on account of their position are subject to fringe benefits tax (maid, driver, car house/housing assistance)
    • representation allowance, transportation allowance, and cost of living allowance