Section 112 Basis of assessment, persons chargeable and extent of charge What is employment income? (1) An employee or office-holder is charged to tax under Schedule E (section 19) on the full amount of emoluments (i.e., salaries, fees, wages and perquisites, etc.) earned in the tax year. Emoluments include: (a) Bonuses: Denny v Reed, (1933) 18 […]

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