Tax questions? You ask lah! #74

Published: Wed, 05/11/22

Tax questions? You ask lah!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

May I know if the staff claim from company for the purchase of spectacles, can the company claim for tax deduction?

A:
Yes, it is tax deductible under staff welfare expense. However, it will be a taxable perquisite for the staff.

If a company rents a car from a car rental company on yearly basis for staff usage, is this car considered as a benefit-in-kind (BIK) for the staff?

A:
Yes, it is considered as a BIK for the staff.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!

P.P.S. Want to go WAY deeper? Want to SAVE tax for your Business? Join my FREE Tax Livestream @ https://bit.ly/zen-taxlive

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