Personal relief Income tax, legally, reduce income tax
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 Dec 12 2008, 02:52 PM
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#1
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Senior Member
1,473 posts Joined: Nov 2005  
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QUOTE Is the currently all those personal relief under the Income Tax Act 1967 keeping with current cost of living? Is it fair, reasonable and equitable in this bad economy time? I think its fair, job less means no pay tax.  |
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Jul 8 2009, 11:13 PM
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#2
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Senior Member
1,473 posts Joined: Nov 2005
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QUOTE(cherroy @ Jul 5 2009, 11:37 PM) Not all allowances are tax exempted. meals as entertainment can be exempted, in full or half I am not sure ....If you received HP benefits or company is paying you the bill, you need to declare back as benefit in kind (BIK) which will add into your gross taxable income as well. The introduction of BIK years back is to close the loop hole as you mentioned. I don't think meal, house allowances is tax exempted as well. Correct me if I am wrong.  there are rules .... and there are something else called 'work around'  |
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Jul 29 2009, 01:53 PM
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#3
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Senior Member
1,473 posts Joined: Nov 2005
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i don't think those are tax exampt, or are they now ?
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