Valuation of perquisites clarified: new rules set standards for accommodation, motor car, travel, gifts and club benefits. Amendments revise valuation of perquisites: substituted accommodation table (effective 1 April 2006) prescribes salary linked or actual charge based valuation and furniture uplift; a motor car table (effective 1 April 2008) defines valuation by engine capacity and use with nil valuation for wholly official use subject to documentary proof and allowance for higher official use claims; additional rules value employer provided transport, holidays, free food, gifts, credit card expenses and club membership at actual employer expenditure reduced by employee contributions, with specified de minimis exceptions and record keeping requirements; residual benefits are valued at arm's length cost.
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Valuation of perquisites clarified: new rules set standards for accommodation, motor car, travel, gifts and club benefits.
Amendments revise valuation of perquisites: substituted accommodation table (effective 1 April 2006) prescribes salary linked or actual charge based valuation and furniture uplift; a motor car table (effective 1 April 2008) defines valuation by engine capacity and use with nil valuation for wholly official use subject to documentary proof and allowance for higher official use claims; additional rules value employer provided transport, holidays, free food, gifts, credit card expenses and club membership at actual employer expenditure reduced by employee contributions, with specified de minimis exceptions and record keeping requirements; residual benefits are valued at arm's length cost.
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