Entertaining, Meals and FBT

HomeInsights

Entertaining, Meals and FBT

An everyday occurrence across the business landscape in Australia is the practice of taking both existing and potential clients out for a meal to cement the business relationship, with the cost of this meal often covered by one party.

Equally, business owners commonly reward by taking high performing employees out for lunch and covering the cost.


Questions?

In conclusion, the provision of meal entertainment benefits can be a taxation minefield. We strongly suggest that if you have questions regarding your business practices and how you reward your employees please contact us on (03) 5911 7000 or send us an email.

30 Mar

Fringe Benefits Tax - All the need-to-knows

On 31 March 2022, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount. Who needs to lodge a FBT return? Find out here.


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23 Mar '21

Why You Should Lodge an FBT Return in 2022

Why should you lodge an FBT return where no FBT is payable? Well, for the simple reason that it turns on a three-year deadline for the ATO to commence audit activities. This is a NEW ATO rule as a result of massive deficits due to COVID. The ATO need to gain more funds somehow...FBT liability is one of the methods.


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23 Mar '21

What is a Car Fringe Benefit?

A car fringe benefit commonly arises when an employer makes a car they own or lease available for the private use of an employee.


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