Calculating Housing Allowances
The housing allowance (HSING) is a monthly taxable benefit.
The calculation rule is Amount:
Amount is set by the formula ALW FM HOUSING.
This section discusses how to work with ALW BR HOUSING bracket.
This HSING earning element pays the housing allowance. The amount depends on the salary grade of the payee. The ALW BR HOUSING bracket stores the salary grade and the corresponding housing allowance amount.
Example
A Grade 001 payee is paid 10000 HKD and a Grade 003 payee is paid 5000 HKD. The ALW BR HOUSING bracket stores the following information:
|
Salary Grade |
Monthly Housing Allowance |
|---|---|
|
001 |
10,000 |
|
002 |
8000 |
|
003 |
5000 |
|
004 or lower |
NA (ineligible) |
This customary bracket enables you to update or add additional grades and allowance amounts. The system compares the salary grade of the payee to the ALW BR HOUSING bracket and pays the corresponding allowance. If the salary grade of the payee is not found, the system pays a zero allowance. The earnings are paid at the earning assignment level because it is a recurring monthly payment.
Note: Only employees in the salaried pay group are eligible for this benefit.