An everyday occurrence across the business landscape in Australia is the practice of taking both existing and potential clients out
for a meal to cement the business relationship, with the cost of this meal often covered by one party.
Equally, business owners commonly reward by taking high performing employees out for lunch and covering the cost.
In conclusion, the provision of meal entertainment benefits can be a taxation minefield. We strongly suggest that if you have questions
regarding your business practices and how you reward your employees please contact us on (03) 5911 7000 or send us an
email.
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.
On 31 March, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount. Who needs to lodge a FBT return? Find out here.
Treasury has released exposure draft legislation for Payday Super that will require employers to pay superannuation at around the same time as salary and wages are paid to the employee. The changes are proposed to commence from 1 July 2026.