Business Christmas Parties – What are the FBT/Tax Implications?
With the festive season upon us, businesses look at holding Christmas parties and providing Christmas gifts to staff. It should be noted when they are both provided to staff, the employer may be subject to Fringe Benefits Tax (FBT). A Christmas party is considered an “entertainment benefit” and to the extent that the expenditure relates […]
Costs of Operating SMSFs
By Daniel Shaw Recently the SMSF Association published the report ‘Costs of Operating SMSFs 2020’ (SMSFA Report) which is an updated version of the report Rice Werner completed in May 2013 (RW Report) for ASIC. The SMSFA’s Report’s findings conclude that in most circumstances the costs of running an SMSF are very competitive and even […]
