It is important for the employer to provide the benefits to all employees. Fitness expenses are personal and they cannot be carried forward to the next period or transferred to another employee. The employer has the obligation to keep a record of payment of the benefits.
The expenses that an employer can compensate for without having to pay tax are:
The amendment to the Income Tax Act will enter into force at the start of 2018.
Once per month we will send you an article keeping you up to date with the latest trends and developments in accounting, taxation or legal fields.