Other Income/Benefits

The Other Income/Benefits page allows businesses to track non monetary benefits provided to their employees that need to be reported to the IRAS each basis period. The screen captures the same data that the paper based version of the forms collects, allowing the values to be automatically reported to the IRAS as part of the annual income reporting process.

You'll first need to select the basis period:

The next section will allow you to select from 4 tabs. These include:

1. Benefits in kind
2. Gains/profits from employee share plans
3. Income from overseas/employment pension fund
4. Income tax borne by employer

Benefits in kind 

The options for the type of benefit are:

1. Place of residence and related benefits provided
2. Utilities and housekeeping costs
3. Hotel accommodation provided
4. Other 

Place of residence and related benefits provided

When adding a place of residence and related benefits provided, the following data fields are available:

• Address: contains line 1, 2 and 3. Address line 1 must be completed at a minimum
• Period of occupation: includes to and from date fields. Both date fields must be completed and fall within the selected basis period
• Number of employees sharing the premises: mandatory number field, number provided must be greater than 0
• Type of benefit: mandatory $ value, benefit type - options for benefit type include:
  • Value of premises for period provided, if selected the furnished option displays and must be completed. Options for furnished include fully or partially
  • Rent paid by employer for period provided, if selected the total rent paid by employee field displays and a $ value must be provided. $0 is accepted

Utilities and housekeeping costs

Within utilities and housekeeping costs there are three options:

• Utilities/Pager/Suitcase/Golf Bag/Camera/Electronic Gadgets
• Driver
• Servant/Gardener/Upkeep of compound

At least one field must be completed with a value greater than $0.

Hotel accommodation provided

There are only two fields for completion within the hotel accommodation provided benefit type:

• Actual cost of hotel accommodation/serviced apartment within hotel building
• Amount paid by employee

At least one field must have an amount greater than $0 added.

Other

When adding other income there are a number of options:

• Insurance premiums paid by the employer
• Interest premiums made by the employer
• Free or subsidised holidays including air passage etc.
• Educational expenses including tutor provided
• Entrance/transfer fees and annual subscription to social or recreational clubs
• Gains from assets e.g. vehicles, property etc. sold to employee at a price lower than open market value
• Full cost of motor vehicles given to employee
• Car benefits
• Cost of home leave passages and incidental benefits provided to employee and their family
• Other non-monetary awards/benefits which do not fall within the above items

As with the previous benefits, at least one field must have a value greater than $0 added.

Please note only one of each type of benefit can be added for each basis period. If the values change throughout the year, simply update the values with the accurate value for the entire basis period.

Gains/profits from employee share plans 

This includes details of any gains or profits received from Employee Stock Options (ESOP) or other forms of Employee Share Ownership (ESOW) plans for the selected basis period.

The fields here include:

• Type of scheme:
  • EEBR scheme
  • ERIS SME
  • ERIS all corporations
  • ERIS start up
• Name of company which granted the share plan
• UEN of company which granted the share plan
• Type of plan granted
  • ESOP
  • ESOW
• Date of grant
• Date of exercise / vesting - Date of exercise for ESOP, date of vesting for ESOW. If a selling restriction is imposed, provide the date the restriction is lifted for the plan. 
• Exercise price / price paid per share - Exercise price per share for ESOP, or price paid/payable per share for ESOW plans. 
• Market value per share as at date of grant
• Market value per share as at date of exercise / vesting
• Number of shares acquired

Income from overseas/employment pension fund

These include the following types of income received during the selected basis period; income earned whilst working overseas, income subject to tax remission, exempt income or income received from overseas pension funds (with tax concession).

• Type of income
  • Tax remission on overseas cost of living allowance (OCLA)
  • Seaman
  • Excemption
  • Overseas pension fund with tax concession
  • Income from overseas employment
  • Income from overseas employment and overseas pension fund with tax concession
• Amount of income
• Period of overseas posting
  • Full year
  • Part of year
• Exempt income
• A tick box to indicate if contributions made to overseas pension/provident funds

Income tax borne by employer

Here you can provide details of income received where tax is borne by the employer. The values provided should be the total amount for the selected basis period. The types include:

• Tax fully borne by employer
• A fixed amount of income is borne by the employee - a dollar value will need to be entered 
• Tax partially borne by employer - a dollar value will need to be entered 

Extracting/Importing benefits

Benefits can be exported via the data extracts page, for more information on this please refer to the Data Extracts support article.

Benefits can also be bulk imported via the Other Income/Benefits page, using the template downloaded via the data extracts page.

NOTE: The earnings for the other income/benefits are assigned based on the employing entity assigned to the employee as at 31 December or the employee's end date (if terminated through the year).