As the end of year approaches, the subject of Christmas parties and FBT is never far from employers’ minds. Paying too much fringe benefits tax can really make the turkey and stuffing stick in the throat. So how do you know if you’re getting the best deal with the tax you pay?
With the end of year approaching, most employers will incur expenditure in relation to an annual Christmas party, end of financial year function or other similar celebrations.
But the subject of Christmas parties and FBT can put a damper on proceedings – if you are paying too much tax.