Tax Glossary
Welcome to the TWD Accountants Tax Glossary. To help you interpret the jargon that you can come across in dealing with your tax, our team of experts have written a brief explanation for hundreds of technical terms. Click on a letter to show entries.
Job Related Accommodation
The provision of accomodation to a person by reason of employment, results in a charge to tax on the benefit received. There are exceptions on which no tax is charged and these are when it is:
Necessary for the employee to reside in the accommodation for proper performance of their duties; or
Customary for the employee to be provided with accommodation for better performance of duties; or
Part of a special security arrangement.
The provision of accomodation to a person by reason of employment, results in a charge to tax on the benefit received. There are exceptions on which no tax is charged and these are when it is:
Necessary for the employee to reside in the accommodation for proper performance of their duties; or
Customary for the employee to be provided with accommodation for better performance of duties; or
Part of a special security arrangement.
Joint Tenancy
A Joint Tenancy agreement is when: All the joint owners have equal interests in the property The interest or share of each owner passes on their death by survivorship to the remaining owner(s), in equal shares Each owner can break up the joint tenancy. The owners then hold the joint asset as tenants in common
A Joint Tenancy agreement is when: All the joint owners have equal interests in the property The interest or share of each owner passes on their death by survivorship to the remaining owner(s), in equal shares Each owner can break up the joint tenancy. The owners then hold the joint asset as tenants in common
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