| Nature | Taxable / Not taxable |
|---|
1 | Award for passing internal/ external examination (cash / non-cash) | This award is not taxable if the value of the benefit does not exceed $200. If the award exceeds the exemption threshold of $200, the whole value is taxable.
|
2 | Bursary |
a) The scheme is open to all employees with the purpose of providing financial assistance to needy employees and awards are only given to eligible employees who satisfy certain criteria, e.g. income of family members. | Not taxable |
b) Reward for services rendered by a specific employee | Taxable |
3 | Innovation / Improvement | Not taxable due to administrative concession |
4 | Long Service / Retirement |
a) Cash awards | Taxable |
b) Non-cash awards | Not taxable if it does not exceed $200. If the award exceeds the exemption threshold, the whole value is taxable. See Long Service/Retirement below. |
5 | Recognition for good service provided (cash / non-cash) e.g. GEMS award, Most Courteous Employee Award. These are awards given to recognise good services provided to external or internal customers. | This award is not taxable if the value of the benefit does not exceed $200. If the award exceeds the exemption threshold, the whole value is taxable. See Recognition for Good Service below. |
6 | Recognition for work performance (cash / non-cash) e.g. awards given to promote corporate culture and organising company events and attaining goals / targets | Taxable |
7 | Payment for successfully referring friends or relatives to work for the company. | Taxable even if the award is also available to non-employees |
8 | Zero/low Medical Leave (cash / non-cash) | This award is not taxable if the value of the benefit does not exceed $200. If the award exceeds the exemption threshold, the whole value is taxable. |