Consider Diane’s case
Diane runs a company with a staff of twelve. Bill is her general manager and receives use of a company car as part of his remuneration. Diane throws a large Christmas party each year to which she invites all her staff, as well as other meal benefits during the year. Diane is concerned that the 49% FBT rate may apply to these benefits.
Whether there is a Fringe Benefit Tax (FBT) obligation depends on the following:
Entertainment is a complex area of FBT. Some aspects to consider are:
Please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.
We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.