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Accountant and Registered Tax Agent
Bookkeeping, Accounting, Tax Returns, new business set ups, small business advisors
Home loans, investment, re finance
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Christmas parties and gifts, You may want to consider if you’ll need to pay fringe benefits tax (FBT) when rewarding your employees with gifts or parties this Christmas. For your work Christmas party you’ll need to consider: how much it costs where and when it is held - a party at work on a normal work day is treated differently to an event outside of work who is invited - is it just employees or are partners, clients or suppliers also invited? When it comes to Christmas gifts, you’ll need to consider: the amount you spend the type of gift - gifts such as wine or hampers are treated differently to gifts like tickets to a movie or sporting event who you are giving the gift to – there are different rules for employees and clients/suppliers. https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/In-detail/Fact-sheets/FBT-and-Christmas-parties/ ATO small business news room https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/Types-of-fringe-benefits/Entertainment-and-fringe-benefits https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/In-detail/Publications/FBT-and-entertainment-for-small-business
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