23 May 2017
Do you reward employees on top of their usual salary to show your appreciation for a job well done? It is important you keep track of the benefits you provide. It will also help you work out if you can claim any deductions for your business.
A company car or motorbike, use of a holiday home, gym memberships, accommodation, concert tickets or other lifestyle assets are usually considered fringe benefits, so it’s important to keep a record of each asset and how it’s used.
Up-to-date records can help you get things right when you lodge your activity for the year.
Remember, registered tax agents and BAS agents can help you with tax and super advice.
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