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Giving non-entertainment gifts to clients at the end of the year is always popular and may help you retain clients and generate more income for your business. Non-entertainment gifts to clients of any value do not attract FBT but they will generally be tax deductible as long as they are not excessive.
Entertainment gifts to clients will not attract FBT and will NOT be tax deductible.
If deemed to be a minor benefit, then no FBT is payable.
We’ve compiled a list of business expenses you can deduct, download this checklist and save your taxes in just under 5 minutes!
Need a helping hand? At Beany, we specialise in making accounting and tax a breeze. Our team of experts can handle your tax compliance so you can focus on what you do best – running your business. Let Beany be your trusted accounting partner. Get in touch with us today.
Ginette Chee
Accountant & Freelance Writer
Sydneysider Chartered Accountant who loves cooking, art and her Springer Spaniel Charlie.
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