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Party or gifts for staff – It may be a lovely idea to reward your them this Christmas, but remember to check your Fringe Benefits Tax obligations
Without wanting to sound like the Grinch, when it comes to planning staff gifts and a party this Christmas there’s more to think about than what to buy and where to host the bash.
You’ll need to establish if you have to pay Fringe Benefits Tax (FBT), and may want to consider if you’ll be able to claim a tax deduction, when rewarding your employees for their year’s hard work.
When giving staff gifts, take into account:
For your work Christmas party you’ll need to consider:
For more information, please feel free to contact myself or the team.
Phillip Cross, Royce Cross Agencies
Sue & Steve Trezise, Steve Trezise Electrical