Article - Ragtrader, National

With Christmas just around the corner companies should start thinking about ways to get around fringe benefits tax. Industry expert Jol Dare explains how.

MANY BUSINESSES MAY have already started planning their Christmas celebrations, and with it comes the challenge of managing the fringe benefits tax (FBT) implications without being seen as Scrooge.

Generally speaking, any entertainment provided to employees may be liable for FBT, payable at 46.5 per cent. This can make for a fairly sizable tax bill, particularly at Christmas time when businesses like to throw parties, give gifts, and reward employees.

Fortunately, there are some exemptions, and ways to minimise the amount of FBT payable. Read more

Article published in Ragtrader, National on 1 October 2012.