1.1.E.90 Employer provided benefit (YA)
For the purposes of the YA parental means (1.1.P.45) test an employer provided benefit is a benefit an employer provides to, or on behalf of, an employee for the employee's, or in some cases their family's, private use.
Example: Employer provided benefits include:
- school fees,
- private health insurance,
- low interest loans,
- housing assistance,
- financial investments, and
- expense benefits.
Example: Some of the most common types of expense benefits include:
- telephone expenses,
- holiday expenses,
- medical or hospital expenses,
- union dues/professional association membership fees,
- fuel and/or power expenses, including electricity, gas, oil or firewood,
- grocery bills,
- credit card accounts,
- sporting or social club fees, and
- child care expenses.
Amounts paid to meet or reimburse expenses incurred in connection with the employee's employment are NOT employer provided benefits.
Act reference: SSAct section 1067G-F11 Income components for tax year, section 8(1)-'income amount'