Tax & AccountingCorporateJune 24, 2020

FBT 2020: Entertainment Expenses and FBT

The reporting of Entertainment in annual FBT Returns remains the biggest challenge.

Just in time for 2020 FBT Reporting, we’ll help you to meet the challenge by understanding the FBT, GST and Income Tax implications of Entertainment Expenses and how to differentiate from deductible meals.

Unravelling the FBT, GST, Income Tax, accounting and process challenges associated with Entertainment fringe benefits. Particular focus on Policy and Process to achieve FBT savings and best practice approach

Particular focus areas will include:

  1. How to achieve FBT savings through valuation, planning and structuring.
  2. Food & Drink, when does it constitute Entertainment
  3. Alcohol Consumption
  4. Travel Expenses
  5. Other types of Entertainment
  6. Sustenance and Policy development.

Paul will highlight best practice process, common errors and dispel the many myths.

Webinar Learning Outcomes:

  1. The steps to take in achieving real FBT savings
  2. A clear understanding of the tax and accounting rules governing Entertainment Expenses.
  3. 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
  4. Developing a chart of accounts structure to streamline your Entertainment Expense process
  5. Implementing an employee expense policy
  6. An understanding of best practice process
  7. Common errors and dispelling the many myths associated with Entertainment Expenses

Suited to:

Those in practice or corporate roles, from beginners to advanced. As well as anyone involved in FBT reporting or managing employee expenses fleet from an operational or policy perspective. including:

  • Tax agents and tax advisors
  • Accountants in Public Practice
  • Tax Accountants
  • HR Personnel (from officers to General HR Managers)
  • Accounts Payable
  • Finance teams
  • Finance Managers
  • Financial Accountants
  • Management Accountants
  • Tax Managers
  • Salary Packaging Managers

Presenter Bio:

Paul Mather, Founder and Director of FBT Salary Packaging Solutions has over 20 years hands-on, Salary Packaging and FBT experience. Paul is a current member of the ATO’s FBT Working Group and the ATO’s Small Business Liaison Group. Paul was a member of the former Australian Taxation Office National Tax Liaison Group (NTLG) Fringe Benefits Tax Subcommittee from 2005 to 2013. An accomplished trainer and speaker, Paul delivers his topic in a practical and insightful manner.

You will be provided with:

  • PowerPoint presentation slide deck
  • Supporting documentation
  • Webinar Recording to view multiple times for up to 6 months 
  • Q&A Session and the presenters contact details for follow up questions
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