Which is correct? a) The de minimis benefits not exceeding their thresholds are exempt from income tax. b) The de minimis benefits not exceeding their thresholds are subject to fringe benefit tax. c) The de minimis benefits not exceeding their thresholds are subject to regular tax. d) The de minimis benefits not exceeding their thresholds are deductions from gross income
Which is correct? a) The de minimis benefits not exceeding their thresholds are exempt from income tax. b) The de minimis benefits not exceeding their thresholds are subject to fringe benefit tax. c) The de minimis benefits not exceeding their thresholds are subject to regular tax. d) The de minimis benefits not exceeding their thresholds are deductions from gross income
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 1DQ
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Which is correct?
a) The de minimis benefits not exceeding their thresholds are exempt from income tax.
b) The de minimis benefits not exceeding their thresholds are subject to fringe benefit tax.
c) The de minimis benefits not exceeding their thresholds are subject to regular tax.
d) The de minimis benefits not exceeding their thresholds are deductions from gross income
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