Chapter 3 - 1.3 - Vouchers Flashcards
1
Q
What is a non-cash voucher?
A
A voucher or card exchangeable for goods or services (e.g a book token)
2
Q
What is a cash voucher?
A
A voucher or card exchangeable for cash
3
Q
What is a credit token?
A
Usually a credit card, which can be used to obtain money, goods or services
4
Q
What is the taxable amount of a non-cash voucher?
A
Cost to the employer, less any amount paid by the employee
5
Q
What is the taxable amount of a cash-voucher?
A
Amount for which the voucher can be exchanged
6
Q
What is the taxable amount of a credit token?
A
Cost to the employer, less any amount paid by the employee
