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

NV165: FBT and Christmas time

·17 min·1 clip

Chris Reid warns that many businesses mistakenly believe Christmas party costs are simple tax deductions, unaware of looming Fringe Benefits Tax.

Tax experts Sarah Powell and Chris Reid explain the complex Fringe Benefits Tax (FBT) rules that apply to business Christmas parties, staff gifts, and client entertainment. They detail how FBT interacts with GST claims and income tax deductions, clarify the 'minor benefit' exemption, and provide a compliance checklist for business owners.

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