Cloud Payroll - BIK : Example provided – for Motorcar: Difference between revisions
Cloud Payroll - BIK : Example provided – for Motorcar (view source)
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(Created page with "'''Question :''' <br> <big>'''Example provided – for Motorcar'''</big> <br> <u><b>Answer :</b></u> Where a motorcar is provided, the benefit to be assessed is the private usage of that motorcar and the petrol provided. A motorcar which is provided to the employee is regarded to be used privately if: • It is used for travelling between the office and the employee’s home, and • It is kept at the employee’s home where the motorcar can be used by the e...") |
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<u>b) The Prescribed Value Method</u>
<br> The prescribed value for a motorcar is given as in <b>[[https://wiki.autocountsoft.com/wiki/Cloud Payroll - BIK : APPENDIX 2 - (a) The Prescribed Value of Motorcar and Its Related Benefits|Appendix 2 – (a) The Prescribed Value of Motorcar and Its Related Benefits.]]</b>
<br> The valuation of the benefit will be based on the cost of the motorcar at the time when it was new
<br> This treatment is also applicable to a second-hand motorcar and a leased or rented motorcar.
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