Providing Staff with FBT Free Benefits at Christmas.
Christmas is fast approaching and employers need to be aware of certain tax implications when having Christmas parties.
This article by Joe Kaleb, Chartered Accountant & CEO of www.australianbiz.com.au examines in detail some of the most common benefits provided at Christmas and outlines the various income tax, GST and FBT implications for employers. It also focuses on how your business can hold the staff Christmas party without paying any fringe benefits tax (FBT), and in addition provide staff (including their spouses and partners) with certain gifts costing less than $300 (e.g. hampers and skincare products) that is fully tax deductible with no FBT payable.
Read more here...http://www.australianbiz.com.au/business_articles.aspx?i=692&p=1
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