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That is completely avoided if the person makes less than 12k/year though. So there is already a loophole, there just hasn’t been enough incentive to use it yet.
by tw04 5y ago
That is completely avoided if the person makes less than 12k/year though. So there is already a loophole, there just hasn’t been enough incentive to use it yet. Although I’d question if that’s why some executives take a $1 salary and the rest in stock. All of their benefits are now tax free*.
yes I realize it’s nuanced and depends on country.
- saddlerustle 5y agoNo, the value of benefits in kind count towards the income tax band.
- IanCal 5y agoThat is absolutely not true in the UK. Again, this would just be what every business would do if that were the case.