Quote:
Originally Posted by mARC
Please feel free to accept one of the following responses:
-Derp;
-Its a drop in the ocean; and
-If all transactions/actions of a business were purely focused on an inflow/tax deductibility perspective a business will never grow, sustain its intellectual infrastructure, develop a consistent quality of tangible/intangible product, yadda yadda.
Edit: A greater understanding of FBT and proximity can help alleviate you're concerns as well as interpreting/widening your horizons of the term 'gift'.
Also the tax treatment of this has been in place for a looooooooooooooooooooooooooooooooong time.
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Referring to the small business guys giving out $1500 gift card bonuses etc just pointing out that there could be FBT or tax + super that needs to be paid on these items.
I know lots of people that one year splash out telling everyone it is a tax deduction, then get the bill from the accountant and become a tight ass the year afterwards. Better to know what you are up for and the best accounting way to do things imo.
Personally I would like the ATO to allow a 1 off Christmas bonus up to a certain value that is tax/super charge free. Would also stimulate a lot of spending in the economy.