26
CAP. 112]
Inland Revenue
[1989 Ed.
(k) any salary or other remuneration paid by another person who is chargeable to profits tax under Part IV which, but for section 17(2), would be deductible in computing the profits or losses of such other person for the purposes of that Part. (Added 7 of 1986 s. 3)
(Replaced 36 of 1955 s. 11. Amended 15 of 1966 s. 2; 7 of 1986 s. 12)
9.
Definition of income from employment
(1) Income from any office or employment includes---
(a) any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite, or allowance, whether derived from the employer or others, except-
(i) the value of any holiday warrant or passage granted by an employer to an employee in so far as it is used for travel;
(ii) any allowance for the purchase of any such holiday warrant or passage in so far as it is expended for that purpose; and
(iii) any allowance paid by an employer to an employee for the transportation of the personal effects of the employee in connection with any journey on which a holiday warrant or passage referred to in subparagraph (i) or (ii) is used in so far as the allowance is expended for the transportation of the personal effects of the employee; (Amended 3 of 1949 s. 4; 9 of 1950 Schedule; 2 of 1971 s. 6; 40 of 1972 s. 2)
(aa) so much of any amount (other than a pension falling under section 8(1)(b)) received by an employee before or after his employment ceases, whether by way of commutation or otherwise, from a pension or provident fund, scheme or society, other than an approved retirement scheme, as represents his employer's contributions to that fund, scheme or society; (Added 2 of 1971 s. 6)
(b) the rental value of any place of residence provided rent-free by the employer or an associated corporation; (Amended 38 of 1975 s. 2)
(c) where a place of residence is provided by an employer or an associated corporation at a rent less than the rental value, the excess of the rental value over such rent; (Amended 38 of 1975 s. 2)
(d) any gain realized by the exercise of, or by the assignment or release of, a right to acquire shares or stock in a corporation obtained by a person as the holder of an office in or an employee of that or any other corporation. (Added 2 of 1971 s. 6)
1
26
CAP. 112]
Inland Revenue
[1989 Ed.
(k) any salary or other remuneration paid by another person who is chargeable to profits tax under Part IV which, but for section 17(2), would be deductible in computing the profits or losses of such other person for the purposes of that Part. (Added 7 of 1986 s. 3)
(Replaced 36 of 1955 s. 11. Amended 15 of 1966 s. 2; 7 of 1986 s. 12)
9.
Definition of income from employment
(1) Income from any office or employment includes---
(a) any wages, salary, leave pay, fee, commission, bonus, gratuity, perquisite, or allowance, whether derived from the employer or others, except-
(i) the value of any holiday warrant or passage granted by an
employer to an employee in so far as it is used for travel; (ii) any allowance for the purchase of any such holiday warrant
or passage in so far as it is expended for that purpose; and (iii) any allowance paid by an employer to an employee for the transportation of the personal effects of the employee in connection with any journey on which a holiday warrant or passage referred to in subparagraph (i) or (ii) is used in so far as the allowance is expended for the transportation of the personal effects of the employee; (Amended 3 of 1949 s. 4; 9 of 1950 Schedule; 2 of 1971 s. 6; 40 of 1972 s. 2)
(aa) so much of any amount (other than a pension falling under section 8(1)(b)) received by an employee before or after his employment ceases, whether by way of commutation or otherwise, from a pension or provident fund, scheme or society, other than an approved retirement scheme, as represents his employer's contributions to that fund, scheme or society; (Added 2 of 1971 s. 6)
(b) the rental value of any place of residence provided rent-free by the employer or an associated corporation; (Amended 38 of 1975 s. 2)
(c) where a place of residence is provided by an employer or an associated corporation at a rent less than the rental value, the excess of the rental value over such rent; (Amended 38 of 1975 s. 2) (d) any gain realized by the exercise of, or by the assignment or release of, a right to acquire shares or stock in a corporation obtained by a person as the holder of an office in or an employee of that or any other corporation. (Added 2 of 1971 s. 6)
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