The Grinch of Business Christmas

The silly season is fast approaching and we all like to reward our staff and clients however many small business owners aren't aware of the additional taxation costs that can pop up as a result. Don't let the grinch spoil your celebrations with our simple flow chart below that will walk you through whether you are able to claim a tax deduction for the expense as well as GST and whether FBT is payable (currently at 47% for the 2019 FBT year). Entertainment and meal entertainment specifically is the most complex part of the Fringe Benefits Tax (FBT) legislation and one that leaves many businesses open for an ATO audit if they do not comply correctly.​ The ATO also provides a short list to help

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