Fringe and De Minimis Benefits Flashcards
MV
Housing – rented by employer
50% of rental
MV
Housing – owned by employer, no transfer of ownership to
employee
50% Actual Value (5% FMV/Tax Dec.
or ZV whichever is higher
MV
Housing – employer buys on installment, no title transfer
50% Actual Value (5% acquisition cost,
exclusive of interest)
MV
Housing – employer buys house, transfers title
Total cost of Zonal Value
whichever is higher
MV
Expense Account
Entire value of benefit
MV
Vehicle of any kind – employer buys
motor vehicle in the name of employee
Entire value of benefit
MV
Vehicle of any kind – Employer buys car installment in name of
employee
Cost exclude interest divided by 5
years
MV
Vehicle of any kind – Cost partially borne by employer in name
of employee
Entire value of cost borne by
employer
MV
Vehicle of any kind – Employer owns motor vehicle fleet
50% (cost of motor vehicle/5 years)
MV
Vehicle of any kind – Employer rents motor vehicle fleet
50% (rental of motor vehicle)
MV
Household expense
Entire value of benefit
MV
Interest on loan less than market (12%
standard rate)
Foregone interest equivalent
MV
Membership fees in clubs paid for by employer
Full value of benefit
MV Expenses for foreign travel - First class ticket
30%
MV
Expenses for foreign travel - Travel expenses of employee paid for by employer
Full value of benefit
