The season of giving is on us. While the fun part is thinking about parties and presents, take a moment to remind yourself about the tax rules. If your Christmas giving includes gifts to clients, remember that some gifts will be fully deductible while others will be only 50% deductible. Check out our Guide to …
It can come as a surprise to find out that the income tax and GST treatment of mealexpenses for self-employed people differs from that of meal allowances paid toemployees. And it’s different again under the entertainment expenditure rules. If you’re self-employed you usually cannot deduct meal expenses as they aredeemed private or domestic expenses, although …
‘Tis the season for saying thanks to customers and staff, typically with gifts, wining, and dining. Refresh yourself on what the tax rules are if you plan on claiming the expenses. Examples of where entertainment expenses are 50% deductible include: • Taking customers, suppliers, and associates out for dinner or putting on a function for …
Let us entertain you (but be aware of the tax treatment) Read More »