Christmas lists aren’t just for kids and Santa Claus. Before summer arrives, tick off our small business Christmas checklist to ensure you’re in the best possible shape for the year ahead. Plan cash flow Make sure your business has enough funds on hand to pay suppliers over Christmas and January, remembering your tax obligations in…
Tag: Christmas
FBT vs PAYE vs Entertainment Expenditure
In the context of Christmas parties, gifts, and staff bonuses, various taxation rules come into play, namely the entertainment rules, PAYE, and FBT. The entertainment rules place a 50% deductibility restriction on certain expenditures related to recreational events, such as Christmas parties or corporate hospitality. This limitation is grounded in the recognition that…