Cloud Payroll - BIK : Additional Info for Prescribed Value Method: Difference between revisions
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For other benefits, the prescribed value is listed in <b>Appendix 2 - (c) Prescribed Value of Other Benefits</b> |
For other benefits, the prescribed value is listed in <b>Appendix 2 - (c) Prescribed Value of Other Benefits[[https://wiki.autocountsoft.com/wiki/Cloud_Payroll_-_BIK_:_APPENDIX_2_-_(c)_Prescribed_Value_of_Other_Benefits]]</b> |
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Latest revision as of 10:14, 21 July 2022
Question :
Additional Info for Prescribed Value Method
Answer :
For household furnishings, apparatus, and appliances, the prescribed value in respect of these benefits is given in Appendix 2 - (b) Prescribed Value of Household Furnishing, Apparatus and Appliances [[1]]
For other benefits, the prescribed value is listed in Appendix 2 - (c) Prescribed Value of Other Benefits[[2]]
For those other benefits not listed, it should be valued based on the below formula:
Annual Value of the Benefit = Cost of Asset Provided as Benefit / Prescribed Average Life Span of The Asset
AutoCount Accounting 2.0 & 2.1
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