Sorry for the title. Let me just get right to the point. Today, I discovered two developments in tax. I’m sure I could have phrased the last sentence better, but I’m beyond caring right now.
The first is an addendum to a public ruling and the second one is a gazetted order for a new law.
The addendum was expected. There were rumours of it coming out sometime in March anyway, back when they surprised us with “Yes, it’s an exemption but no, it’s not really an exemption” addendum to the Public Ruling on Perquisites. This addendum, in addition to it being issued right smack in the month when people are already scrambling to file their tax returns and companies have washed their hands of the employees’ EA forms for the calendar year 2008, is obviously about ‘clarifications’ on benefits-in-kind granted to employees that are exempted from the year 2008. Like I said, I plan to ignore whatever’s in that addendum until shit hits the fan, so, let’s not get into what’s in it.
The gazette order, on the other hand, tells us the “good” news that those exempted benefits that we employees get, comes with a tax deduction for the companies giving them. All well and good at first glance. Only, technically, here’s the question: Why would this law be necessary?
To follow up with that question: You mean if not for this law, the companies would not have been able to enjoy a tax deduction for staff benefits?
Third (and last question, I promise): Are you kidding me?!
