desktop

Are Education Assistance, Housing, and Vehicle Benefits Taxable Income?

Q&A:  Are education assistance, housing, and vehicle benefits taxable income?

Q: I’m getting transferred to the UAE and I can get up to $13,000 USD for education assistance for my elementary school daughter. Is this taxable income? What about housing and company car? I would appreciate your assistance.

A: Yes, the money would be included in your gross foreign income.  The same applies to housing and vehicle benefits. The easiest way to think about it is that anything that you would have had to pay with your own cash is taxable.

Categories

Member and Featured Faculty of

Member and Featured Faculty of