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Notes Online Home 2016 FBT Other Developments for FBT in 2016/2017
Government overhauls the meal entertainment rules!
In this section of the seminar notes we look at the Government overhaul of the meal entertainment rules. In particular, the following:
- New $5,000 cap for salary packaged entertainment for employees for FBT-rebatable or FBT-exempt employers
- Removing access to the concessional valuation rules for salary packaged entertainment
- New payment summary reporting requirements for salary packaged entertainment from 1 April 2016
- Action plan for employers by 1 April 2016