Planning your work Christmas party, all those decisions to make, who has been naughty or nice! Not to be a Grinch but there is a bit more to think about then how much to spend on your Secret Santa gift!
Things to Consider:
You’ll need to consider whether you, as the employer, will need to pay fringe benefits tax (FBT) when rewarding your employees with gifts or parties this festive season.
For the Christmas party you’ll need to consider:
- Cost
- Where and when it is held – a party held on work premises during normal work hours is treated differently to one held outside of work
- The invitees – just employees? Or are partners, clients and suppliers also included?
Giving Christmas Gifts to Employees Then You Need to Consider:
- Amount spent
- The type of gift – alcohol & food hampers are treated differently to say movie/sporting event tickets
- The recipient of the gift – there are different rules for employees and clients/suppliers
For further information contact our office or refer to ATO Website
