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The future experience defined by the ATO
if using the actual method, can you confirm if the minor benefits exemption (less than $300 including GST per head cost) applies?;
CGT amendments a missed opportunity
There are 3 different types of defined Entertainment that require separate analysis, FBT valuation and FBT reporting;
10 Key Facts from the Federal Budget 2018
General Data Protection Regulation: A new regime of data protection laws
MAKING NEWS: EMPLOYMENT LAW CASE WRAP-UP
NSW: Strata Defects Regime has commenced
The Australian Financial Complaints Authority
The safe harbour legislation and its impact on the right to terminate leases for insolvency events
never assume the meal costs are automatically deductible and do not constitute sustenance;
Five top tips for preparing financial agreements after Thorne v Kennedy
dont assume that the consumption of alcohol with a meal automatically categorises the expense as entertainment;
Bang bang, no liability; victim of armed hold up unsuccessful on appeal
R&D the major business change from Federal Budget 2018/19
The safe harbour legislation and its impact on the right to terminate leases for insolvency events
Accountants Faring Well in the Future of Virtual Reality
Growing support for workplace response to domestic violence
Try to understand how your organisation has distinguished between sustenance and meal entertainment on a day to day basis, from both a policy, accounting and tax perspective. Sample testing of transactions is a good way to see if you can rely on the general ledger postings and coding rules. Importantly, in undertaking the sample testing, it is necessary to analyse how the coding/posting takes in to account:
FBT Talk: Let the 2018 Entertainment FBT challenge begin
CGT amendments a missed opportunity
Its not just about FBT, there are interactions with Income Tax and GST that require consideration and ultimately reconciliation;
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Purchaser GST withholding the final cut
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Tyler Wise, Intelligent Accounting Trail Blazer
To learn more about preparing your 2018 FBT Return register for theWolters Kluwer and FBT Solutions one day workshop.Our interactive workshops bring together the practical guidance, support and tools you need to sail through the 2018 FBT season.
Strategies to reduce your total superannuation balance: Part 1
A review of general ledger transactions should be undertaken based on a trial balance review. The following general ledger codes should be reviewed:
Other Key Corporations Law Amendments in 2017/18
Introducing Four New Content Layout Features
Some tips when reviewing expenses for staff functions and parties:
Key issues affecting Australian workplaces in 2018
Dallas Buyers Club court limits what copyright owners can demand
Queenslands new industrial manslaughter laws deviate from model laws
Have a Sweet Valentines Day thats GST-free!
R&D the major business change from Federal Budget 2018/19
R&D the major business change from Federal Budget 2018/19
Is near enough good enough when it comes to union right of entry?
Adapting to Change: Moving Your Firm to Compliance Advisory
For meal entertainment and entertainment facility leasing expenses, there is a valuation choice between 50/50 and actual method (subject to adequate records being maintained);
The plane truth re-visited plane crash survivors PTSD found not to be a bodily injury
Australian Tax Treaties 2018: Revised German Agreement and TIEA with Brunei
The Budget Lock-Up: Insights from the Experts
What is driving innovation in accounting right now?
Navigating the risk zones: ATO views on cross-border related party financing
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With the 2018 FBT year-end nearing, now is a good time to give some thought to managing the FBT reporting for Entertainment Expenses and working out your game plan!
Industrial Manslaughter National Update
food expenses (for example, sustenance, morning teas, food and beverage)
For recreational entertainment, the 50/50 valuation method is not available. However, consideration can be given to claiming the minor benefits exemption.
Strategies to reduce your total superannuation balance: Part 1
Gender pay gap: What gets measured gets managed
Mental health and workplace investigations: What are your obligations?
dont forget deposits or security bonds that may have been paid earlier these will impact all of the above; and
Rights of ostensible casuals increasing
Corporations Law Changes in 2017/18: Insolvency Law Reform, Safe Harbour, Crowd-sourced Funding
distinguishes between expenditure that is travel versus non-travel related (which is often impacted by the attendee types)
Labour market testing guidelines for sponsoring overseas workers
Court sheds light on proving claims for unliquidated damages in bankruptcy
CGT amendments a missed opportunity
Verbiage or substance? High Court to examine Family Courts ability to assign tax debts
understand the substance of the event and the attendees (who attended just employees or did spouses/clients also attend?);
Nine Budget tax changes for SMEs and individuals to watch
Always a tricky area to review. Here are some tips when reviewing travel meals:
FBT Season Tips 2018: Work-related items exemption
More complexity for small business in CGT amendments
bar tabs (drinks at the bar) would generally always constitute meal entertainment.
Changing landscape for property transactions involving foreign parties
When valuing meal entertainment using the actual method; consideration can be given to claiming the FBT exemptions for on-premises entertainment and minor benefits exemption; and
Predictive accounting the next generation
The power of implied terms in contracts of employment
More complexity for small business in CGT amendments
Marketing class actions: A new frontier
The need to separate the sustenance (deductible) from the entertainment;
CGT amendments a missed opportunity
R&D tax incentive changes: the overhaul, the tweaks, and the elephant
Refunds and concessions for NSW surcharge purchaser duty and surcharge land tax
understand the attendees and their role / relationship to your company. For example, when a non-travelling employee or client dines with a travelling employee, then there will be FBT and deductibility issues to consider;
Court helps copyright owners identify BitTorrent downloaders
Accountants Faring Well in the Future of Virtual Reality
CCH iFirms E-Learning Platform is here
2018 Annotations of the Personal Property Securities Act (PPSA)
were there other related costs such as accommodation, meals, taxis, flights, parking, gifts, etc.
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Nine Budget tax changes for SMEs and individuals to watch
Summary: Amendments to the GST Act and Associated Legislation in 2017/18
Total and Permanent Disablement in Superannuation and Insurance
understand what information has been provided with the employees expense claim to help determine the tax implications; and
Book Excerpt: Australian Master Tax Guide – 2016 Tax Year End Edition
on-premises versus off-premises costs; and
Strategies to reduce your total superannuation balance: Part 2
More complexity for small business in CGT amendments
How to write great profiles for your accounting firm and why you should
MAKING NEWS: EMPLOYMENT LAW CASE WRAP-UP
Strategies to reduce your total superannuation balance: Part 1
Budget Overview still room for some rabbits (Broader Economic and Political Overview)
R&D the major business change from Federal Budget 2018/19
Strategies to reduce your total superannuation balance: Part 1
High Court to decide employers duty of care during workplace investigations
Industrial manslaughter now a crime in Queensland
entertainment expenses (deductible or non-deductible)
5 essential tips for improving your services content
Accountants Faring Well in the Future of Virtual Reality
Strata and Holiday Letting a word of caution about the game changer
Strategies to reduce your total superannuation balance: Part 2
Rights of ostensible casuals increasing
FBT Talk: Let the 2018 Entertainment FBT challenge begin
United Voice v Berkeley Challenge: Federal Court determines dismissed employees entitled to redundancy pay
Battling over Benji – contributions or best interests?
Australian Tax Treaties 2018: Revised German Agreement and TIEA with Brunei
Can a strata by-law restrict Airbnb style holiday lettings? A new legal decision is a game changer
Strategies to reduce your total superannuation balance: Part 2
The impact of the Internet of Things on Accounting
Beyond staples: major tax reforms to impact foreign investors
whether any $ thresholds have been applied;
Employer liable for drivers fatigue after working four consecutive night shifts
it will be necessary to analyse the costs and where applicable, split the costs between meal entertainment, entertainment facility expenses and recreational entertainment;
R&D the major business change from Federal Budget 2018/19
New federal and state property imposts
any codes with FBT or no FBT in the title
Use the best tax tools in the cloud
Court orders changes to the appearance of a house