For Benefit-in-Kind (BIK) calculations under the prescribed value method, different categories of benefits are valued according to guidelines stated in Appendix 2.

A) Household Furnishings, Apparatus and Appliances

The prescribed value is determined based on Appendix 2(b): Prescribed Value of Household Furnishing, Apparatus and Appliances. This includes items such as furniture, electrical appliances, and other household equipment provided by the employer.

B) Other Benefits

Other benefits are valued based on Appendix 2(c): Prescribed Value of Other Benefits, which lists specific non-cash benefits provided to employees that are subject to BIK valuation.

C) Benefits Not Listed in Appendix

For benefits not specified in the prescribed value list, the value will be calculated using the formula:

Annual Value of Benefit = Cost of Asset Provided ÷ Prescribed Average Life Span of Asset