How Does Housing Allowance Work In Namibia The housing allowance is limited to only one residential accommodation in which the employee resides and can therefore not apply to an employee s investment property holiday housing The housing benefit is an income exemption rule set out in s16A of The Income Tax Act Employers may register a housing
THE Income Tax Act has a specific section that provides for the amount that should be taxed where an employee receives a housing allowance benefit in terms of an approved housing scheme as part of his or her gross remuneration Housing allowance is taxable however 1 3 is exempt if the employer has an approved housing scheme The use of a company car is taxable at 1 5 if all costs are paid by the employer and 1 4 if you as an employee pays the fuel cost
How Does Housing Allowance Work In Namibia
How Does Housing Allowance Work In Namibia
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Housing allowance is taxable however 1 3 is exempt if the employer has an approved housing scheme The use of a company car is taxable at 1 5 if all costs are paid by the employer and 1 4 if you as an employee pays the fuel cost In Namibia certain fringe benefits are subject to taxation Here are two examples Housing allowance The housing allowance provided by an employer is taxable However if the employer has an approved housing scheme one third
Employers may register a housing scheme with Inland Revenue subject to certain requirements Under such a scheme the employee will only be taxable on two thirds of the value of the housing allowance THE Income Tax Act has a specific section that provides for the amount that should be taxed where an employee receives a housing allowance benefit in terms of an approved housing scheme as
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In this video we answer 5 of Namibian Tax FAQ s including a bonus answer regarding housing allowance and how one can benefit from it while paying rent Discl Any subsidy granted by an employer is taxable and must be included in taxable income The taxable value of a housing benefit can be reduced where an employer has an approved housing scheme which is a housing scheme registered with the Minister of Finance
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The housing allowance is limited to only one residential accommodation in which the employee resides and can therefore not apply to an employee s investment property holiday housing The housing benefit is an income exemption rule set out in s16A of The Income Tax Act Employers may register a housing
https://www.namibian.com.na › taxation-of-housing-allowances
THE Income Tax Act has a specific section that provides for the amount that should be taxed where an employee receives a housing allowance benefit in terms of an approved housing scheme as part of his or her gross remuneration
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How Does Housing Allowance Work In Namibia - THE Income Tax Act has a specific section that provides for the amount that should be taxed where an employee receives a housing allowance benefit in terms of an approved housing scheme as
