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FBT & Christmas Gifts for Employees

Continuing on the theme of FBT from our previous post last week, if you are considering giving your staff a thank you gift for Christmas, then you should take into consideration the following information we are going to share with you.

Working out the tax implications of a gift for an employee at Christmas time can be a little tricky it really depends on when you give the gift and if it is combined with the Christmas party.

We have set out a number of examples which should cover all the options available to you:

1.   A non-entertainment gift for an employee is normally considered exempt from FBT providing the total value is less than $300 inclusive of GST. This can also be claimed as a tax deduction and a GST credit can be claimed.


2.   An entertainment gift for an employee is normally considered exempt from FBT; however no tax deduction or GST credit can be claimed.


3.   A gift given to an employee at a Christmas Party will be exempt from FBT when the value is less than $300 inclusive of GST. The added bonus is that a tax deduction and GST credit can also be claimed.


Call the office on 03 8813 0162 and speak with Bec, Andrew or Navin if you need any further clarification.


Tags: FBT |