It is well known that benefits received by reason of a person’s employment (which includes holding of office) are taxable as employment income. While this will cover almost all benefits provided by the employer, benefits provided by someone other than the employer are taxable only if they are as a matter of fact provided ‘by reason of the employment’. Gifts which are made by a personal friend because of the friendship aren’t taxable. What this means for the taxation of donations to members of the British cabinet, for instance, is difficult to answer without knowing the personal relationship donors may have with recipients.
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It is well known that benefits received by reason of a person’s employment (which includes holding of office) are taxable as employment income. While this will cover almost all benefits provided by the employer, benefits provided by someone other than the employer are taxable only if they are as a matter of fact provided ‘by reason of the employment’. Gifts which are made by a personal friend because of the friendship aren’t taxable. What this means for the taxation of donations to members of the British cabinet, for instance, is difficult to answer without knowing the personal relationship donors may have with recipients.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
