C) Income chargeable to Salaries Tax

1. My salaries income includes bonus, allowance and commission. How should I report such income?



2. I have drawn a salary from my business. How should I report this income on my individual tax return (i.e. Tax Return - Individuals [B.I.R.60])?



3. I was laid off. I received from my employer (a) payment in lieu of notice and (b) severance/long service payment. Are these taxable?



4. Is the lump sum received by way of commutation of pension (replacing the monthly pension) on my retirement taxable? On the other hand, is monthly pension taxable?



5. I am a member of a Mandatory Provident Fund Scheme ("MPFS"). What is the tax treatment of the accrued benefits that I would receive or be deemed to have received from the MPFS upon my termination of employment?



6. I was a member of a Recognized Occupational Retirement Scheme ("RORS") but not a MPF Scheme, and I left my employment. Are the accrued benefits withdrawn from the RORS taxable?



7. I completed a two-year-contract of employment and received a lump sum contract gratuity. Then I renewed my contract with my employer for another two years. Do I have to report the entire sum for the first contract's gratuity in this year's tax return? Can I apply to spread it evenly as my income over the two years covered by the first contract?



8. How is the benefit of the provision of a place of residence assessed with respect to an employee's Salaries Tax?



9. What happens with respect to assessable income if the employer does not provide a place of residence to the employee, but refunds all or part of the rent paid by that employee?



10. How are benefits related to companies' share awards or share options taxed?