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  • Entertaining your employees?

    With summer just around the corner, you may be planning a party or a day on the green with your employees.

    Before you fire up the BBQ, make sure you consider the fringe benefits tax (FBT) implications of your celebration.

    These will depend on:

    • the amount you spend on each employee
    • when and where your party is held
    • who attends – is it just employees, or are partners, clients or suppliers also invited?
    • the value and type of gifts you provide.

    Don't forget to keep all records relating to the entertainment-related fringe benefits you provide, including how you worked out the taxable value of benefits.

    Remember, registered tax agents can help you with your tax.

    Last modified: 10 Oct 2022QC 71357