Christmas FBT checklist – December 2014

Christmas party FBT checklist for business

(1)    An exemption for food and drink provided to employees (not associates) on a working day (only if actual basis is used).

(2)    Must be less than $300 (also only if actual basis for valuing benefit used).

(3)    Exemption for employee (not associate) if travel is single trip from or to workplace.

(4)    Are property fringe benefits, and must value using actual basis.

(5)    A meal entertainment benefit. Businesses may elect to apply 50/50 split or 12 week register to value.

(6)        Some “entertainment” can be covered under income tax provisions, however deduction can be denied unless provided as fringe benefit

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