Festive Season Tax and GST Guide
As the festive season kicks off, many businesses face questions about entertainment expenses, gifts, and catering and how these impact GST claims, Fringe Benefits Tax (FBT), and income tax deductibility. To help you navigate these rules with confidence, Knight has prepared the Festive Season Tax and GST Guide.
This concise resource is designed to give you clarity on common scenarios such as staff Christmas parties, client entertainment and gifts for clients or employees. It outlines:
- GST eligibility – when you can claim input tax credits.
- FBT implications – which benefits attract FBT and which exemptions apply.
- Tax deductibility – what expenses can be claimed and under what conditions.
- Record-keeping essentials – practical tips to ensure compliance and streamline your reporting.
The guide also includes a simple comparison table for quick decision-making and record keeping tips to help you stay audit ready. It’s based on current ATO guidance and tailored for businesses looking to manage festive season expenses efficiently and compliantly.
Access the guide HERE and take the guesswork out of your festive season planning. For personalised advice contact Knight, we’re here to help you optimise your tax outcomes while staying compliant.