With Christmas just around the corner, you may (or may not) be thinking about how to thank your staff for their hard work this year. Hosting an extravagant Christmas party is a great idea, but there are a few things to remember when it comes to tax. Any costs involved with throwing a party fall under entertainment expenditure which is generally not tax deductible. It may also be subject to fringe benefit tax (FBT) if the cost per person exceeds $300 (GST inclusive), which does not come under the minor benefits exemption.
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