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Articles

From George and John

Merry Christmas and a Happy new Year to all our clients.
Powerful Superannuation tool on our site.
Gifts Provided to Employees at a Christmas Party – any FBT?
Reminder Tax Break Deadlines
Australian Taxation Office (ATO) Bungled Attack on Foreigners
Tax File Numbers (TFN) and Super Funds
Recognition of same-sex Couples in Super
Attitude of Banks to Insolvency
From the Desks of George and John
3 x Tax Time Checklists
Director Penalties – Workplace Relations Act
Tougher Sponsored Workers Policy
Insolvent Trading Defences
Case Study - Player Management Fee Deductions
Gifts Provided to Employees at a Christmas Party – any FBT?
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The provision of a gift to an employee at Christmas time may be a minor benefit that is an exempt benefit, where the value of the gift is less than $300.

Where a Christmas gift is provided to an employee at a Christmas party that is also provided by the employer, the benefits are associated benefits, but each benefit needs to be considered separately to determine if they are less than $300 in value.

If both the Christmas party and the gift are less than $300 in value and the other conditions of a minor benefit are met, they will both be exempt benefits.

The treatment as separate benefits is a softening of the Australian Taxation Office attitude, compared to earlier years.

 

 

 

 



5th-December-2009