Valuation of benefits

Vouchers

A voucher is a token that can be exchanged for goods or services. The market value of a voucher is the amount of money, or the value of goods, you receive when you use it.

As an employer you may provide your employees with vouchers for certain goods, including meal vouchers. These are taxable benefits.

The face value of a voucher is generally the value of the benefit. If face value is only slightly lower than its cost, we will accept the cost as the value of the benefit.

The value of the benefit cannot be less than your cost in providing it.

If you only provide one voucher in the year, the small benefit exemption may apply.

Meal vouchers

You may provide your employees with a meal voucher. If you do, the face value of the voucher less 19c per voucher must be treated as pay.

Next: Small benefits