Xmas Parties and Gifts – What can I claim for tax?
The festive season is finally here and I am sure you are all relieved that even Covid-19 could not stop it from arriving. So if you want to treat your employees with a year end party or gifts which they deserve, beware of the fringe benefits tax (FBT), GST and income tax consequences. You might think that the party and gifts are simply a tax deductible expense as they are…