Peter received an asset with a market value of R8 500 from her employer as an award
Fantastic news! We've Found the answer you've been seeking!
Question:
Peter received an asset with a market value of R8 500 from her employer as an award for a 20-year unbroken service he rendered to his employer in 2022 year of assessment. This asset was not initially bought with an intention to be disposed of to the employees. The cost price of this asset was R7 500.
Required
Determine the cash equivalent of the fringe benefit, if any that should be included in Peter’s 2022 taxable income
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Posted Date: