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2015 has come and gone, and no doubt your work Christmas party was fabulous…but how should you account for the costs?

If you are an employer and you threw a Christmas party for your team and showered them with gifts you need to consider whether Fringe Benefits Tax (FBT) will apply? The ATO has a guide to FBT and entertainment for small business that is a must read for all employers trying to sort how to account for these costs before you finalise the December BAS.

If you have any questions regarding FBT, or would like to discuss how this applies to your business, please do not hesitate to contact our office.

General Advice

The information provided by Bentleys (Sunshine Coast) Pty Ltd does not constitute financial product advice and is for general information only. It is written without taking into account any individuals personal objectives, situation or needs, and is not intended as professional advice. Any person acting upon such information without receiving specific advice, does so entirely at their own risk. Please contact your Accountant to discuss your personal situation before relying on this information.