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These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.
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Notes Online Home 2021 FBT Meal Entertainment
Methods for valuing meal entertainment
In this section of the seminar notes we look into the methods for valuing meal entertainment. In more detail:
- Calculating FBT payable under the ‘actual’ method
- Valuing meal entertainment under the ‘50/50 split’ method
- Comparing the actual and 50/50 split methods
- Decision matrix for choosing between the valuation methods
- Completing the 2021 FBT return for meal entertainment