FBT 2025 – Festive Fun and Record Keeping

Entertainment remains the biggest practical, technical and time-consuming challenge. Now is the time to increase understanding before the Festive Season comes around in full swing.

In this session Paul will cover:

• The practical approach to managing FBT, GST and Income Tax in relation to Meals, Travel and Entertainment
• Why Record Keeping is the key to managing tax risk and unlocking FBT savings
• How to prevent getting stuck analysing Meals, Travel and Entertainment expenses
• The Entertainment valuation options and requirements
• The available Entertainment and Sustenance exemptions and when to claim
• The importance of the distinction between an exempt benefit and an otherwise deductible benefit
• Food & Drink, when does it constitute Entertainment, and the distinction with meals by way of Sustenance
• Why it is necessary to separately identify and value the different categories of entertainment
• What is best practice process, the common errors and long held myths and misunderstandings.

Learning Outcomes:

Our Festive Fun and Record Keeping session will provide attendees with:

• A clear explanation of the Income Tax, GST and FBT implications of entertainment events, including:

• Christmas Parties
• Attendance at Corporate Box events
• Boat Hire Cruise events
• Attendance at Recreational events
• Participation in Recreational events
• Client lunches and dinners
• Staff functions

• An explanation of the different valuation methodologies
• Practical examples of various scenarios including applying the different valuation methodologies
• What records to keep and the implications of poor record keeping
• The Reportable Fringe Benefits implications
• 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
• Common errors and dispelling myths associated with Meal, Travel and Entertainment Expenses

Suited to:

This session is suited to all Employers including Corporates, SME’s, Charities, Not for Profits and Local, State and Federal Government and Accounting firms, from beginners to advanced

Suitable for everyone involved in Expense Management, Event Management, FBT Management and Reporting, including Accountants, Tax Accountants, Financial Accountants, Finance Managers, Payroll Managers, Tax Agents, Tax Practitioners and their teams

This On Demand recording Includes: 

• Recording of the Live Webinar, which can be viewed multiple times, for as long as required 
• Presenters contact details for follow up questions 
• CPD Quiz
• CPD Certificate 
• CPD Report – Logged automatically 
• PowerPoint Presentation
• Verbatim Transcript, with Searchability
• Supporting Documentation