FBT 2018: Tax implications of Entertainment Expenses
The reporting of Entertainment in annual FBT Returns remains the biggest challenge.
Mar 14Wed 1:00 PM AEDT - Wed 2:30 PM AEDT Online
- $220.00 incl. GST
- PD hours: 1.5
Just in time for 2018 FBT Reporting, we’ll help you to meet the challenge by understanding the FBT, GST and Income Tax implications of Entertainment Expenses and how to differentiate from deductible meals.
Unravelling the FBT, GST, Income Tax, accounting and process challenges associated with Entertainment fringe benefits. Particular focus on Policy and Process to achieve FBT savings and best practice approach
Particular focus areas will include:
1. How to achieve FBT savings through valuation, planning and structuring.
2. Food & Drink, when does it constitute Entertainment
3. Alcohol Consumption
4. Travel Expenses
5. Other types of Entertainment
6. Sustenance and Policy development.
In this webinar we will highlight best practice process, common errors and dispel the many myths.
Webinar Learning Outcomes:
An understanding of the following:
1. The steps to take in achieving real FBT savings
2. A clear understanding of the tax and accounting rules governing Entertainment Expenses.
3. Being able to distinguish between when food & drink (including alcohol) constitutes sustenance and when it constitutes entertainment subject to the FBT, GST and Income Tax rules
4. Developing a chart of accounts structure to streamline your Entertainment Expense process
5. Implementing an employee expense policy
6. An understanding of best practice process
7. Common errors and dispelling the many myths associated with Entertainment Expenses
This is a must attend webinar for Accountants, Accounts Payable and Finance Teams, Tax Accountants and HR personnel. All those tasked with managing or overseeing the provision of Entertainment and Entertainment Expenses. Suited to those in practice or corporate roles, from beginners to advanced.
Paul Mather is the founder of FBT Solutions. Paul has over 25 years’ experience in FBT, Payroll and Salary Packaging in Australia & New Zealand helping businesses across all industry sectors meet their ongoing Employment Taxes, Payroll and Indirect Taxes obligations. In particular, Paul has significant hands on experience with Preparation, Review and ATO lodgment of Australian and New Zealand FBT returns. Prior to starting his own practice, Paul worked as an Employment Taxes Director at Ernst & Young in Sydney, and in New Zealand with BDO and PKF.
Paul is a Registered Tax Agent, a Chartered Tax Adviser and a Chartered Accountant. Paul holds a Bachelor of Business Studies from Massey University in New Zealand and a Master of Taxation from Sydney University. Paul is a member of the ATO’s Small Business Stewardship Group and was a member of the former ATO NTLG FBT-subcommittee Group from 2005 to 2013.
You will be provided with:
• PowerPoint presentation slide deck
• Any Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
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