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David Cowling provides his thoughts on the tax treatment of Client Gifts
As a business owner, as an expression of gratitude I occasionally provide gifts to key clients/customers, especially around special occasions such as Christmas. No doubt many of you do the same.
Although when providing these gifts, their tax treatment is not front of mind, it’s interesting nonetheless to reflect on the GST, income tax and FBT consequences of such gifts.
To determine their tax treatment, just ask yourself the following simple question: Does the gift constitute entertainment? e.g. tickets to movies /sport / theatre / amusement park or holiday airline ticket?
So I guess you could say that the most tax effective client gifts are those that don’t constitute entertainment (such as Christmas hampers, bottles of alcohol, gift vouchers, or stationery items).
With Christmas having just passed, if you have any stories or questions about client or employee gifts, this is the perfect platform to share them.
Article written by David Cowling
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