Free or cheap services
Fringe benefit: Free or cheap services
Duration: 0.5 hour
Price: R49.00
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Fringe benefit: Free or cheap services
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| OUTCOMES OF TOPIC After studying this topic related to fringe benefits, allowances, specific transactions and rebates you should be able to: ✓ Understand the difference between the terms “fringe benefits” and “allowances”; ✓ Identify fringe benefits and allowances received by an employee in terms of his/her employment; ✓ Understand that the Seventh Schedule contain the provisions in respect of fringe benefits and how to apply these provisions to determine its inclusion in a taxpayer’s gross income; ✓ Understand where fringe benefits and allowances are declared on the ITR12 tax return; ✓ Understand that there are specific transactions that would have a specific tax treatment which will be covered later on in Allowances; ✓ Understand where certain deductions (such as section 18A donations) and rebates (such as section 6, 6A & 6B) get included in the tax calculation which will be covered later on in Allowances. |