Benefits in kind reporting
Do we report housing benefit?
The situation
Benefits in kind are reported in Appendix 8A.
The law
- Income Tax Act 1947: employer returns (IR8A, AIS): Employers report employees' income to IRAS by 1 March each year
What it means for you
Value using IRAS rules. Missing benefits understate income. Housing, cars and other benefits each have IRAS valuation rules. Mistakes mean amended submissions.
What to do
- List benefits.
- Value.
- Report.
- Keep docs.
We can do this for youEmployer year-end reporting: IR8A and AIS: SGD 300