ASBFEO Latest News Update, 16 November 2016
We don’t mean to sound like the Grinch, but when it comes to planning the work Christmas party, there’s more to think about than finding out who’s been naughty or nice.
You may want to consider if you’ll need to pay fringe benefits tax (FBT) when rewarding your employees with gifts or parties this Christmas.
For your work Christmas party you’ll need to consider:
- how much it costs
- where and when it is held – a party at work on a normal work day is treated differently to an event outside of work
- who is invited – is it just employees or are partners, clients or suppliers also invited?
When it comes to Christmas gifts, you’ll need to consider:
- the amount you spend
- the type of gift – gifts such as wine or hampers are treated differently to gifts like tickets to a movie or sporting event
- who you are giving the gift to – there are different rules for employees and clients/suppliers.
To help you get it right, we’re running a free webinar on Tuesday, 22 November at 11.00am AEDT. Places are limited so register now.
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