News and Views Podcast Show · Sarah Power: Director of Business Concepts Group, Financial Planner and Accountant

NV155: Year-end events and FBT

·15 min·1 clip

Sarah Power warns that assuming your employee Christmas party is fully tax-deductible is a dangerous mistake.

In their final episode of 2024, hosts Sarah Power and Chris Reid provide a timely guide to the fringe benefits tax (FBT) implications of year-end business events like Christmas parties and client gifts. They explain key rules around entertainment classification, the $300 minor benefit exemption, and record-keeping requirements, and also give a brief update on the stalled legislation for a new tax on super balances over $3 million.

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