Unit 6: FBT and Meals & Entertainment - 2024

Dive into FBT and meals & entertainment! Includes discussions on common benefits, sustenance, recreation, exemptions and more.

In this session, we cover:

• Recap of the case study

• Meal entertainment vs Sustenance

  • What is meal entertainment?

  • What is sustenance?

  • Taxation Ruling TR 97/17

  • Deductible light meals

• Valuation methods

  • Actual method

  • 50/50 split method

  • Exemptions under the actual method

• Tax exempt body entertainment

  • Exempt employers

  • Rebatable employers

• Entertainment facility leasing

• Recreational entertainment

• Seminars and conferences

Date recorded: 10 May 2024