xmas wine for PM's tax deductable?

[Brenda Irwin]

Hi all, I am wondering if I bought a case of wine for my PM's & special RE agents is there any chance that it might be tax deductable?
Cheers Brenda

 

[asy]

Gosh I hope so...

But I drink Baileys, or Vodka..

Can you get cases of chocolate?

asy

 

[geoffw]

Originally posted by Brenda Irwin
Hi all, I am wondering if I bought a case of wine for my PM's & special RE agents is there any chance that it might be tax deductable?
Cheers Brenda

Dale says that this can be done by a trust quite easily- but I'm not sure as an individual.

 

[Michael Yardney]

Originally posted by Brenda Irwin
Hi all, I am wondering if I bought a case of wine for my PM's & special RE agents is there any chance that it might be tax deductable?
Cheers Brenda

My tax advice is that a gift from a company or trust is tax deductible as long as it is valued at less than $100. And it does not have to be at Xmas as long as the gift is infrequent and not expected

 

[DaleGG]

HI

Yes, a gift - of any value for that matter - is tax deductible when it relates to earning your income such as giving one to a PM.

THe $100 rule mentioned above only relates to gifts to employees and relatives of employees.

So, gift away!!

Dale

 

[Jakk]

Originally posted by DaleGG
HI

Yes, a gift - of any value for that matter - is tax deductible when it relates to earning your income such as giving one to a PM.

THe $100 rule mentioned above only relates to gifts to employees and relatives of employees.

So, gift away!!

Dale

Dale,

Have heard that gifts to accountants of greater value than $100 are treated differently under a special ruling from the ATO, and gifts of this nature are allowed a 166% deduction.
Any truth to this or is this just one of the recommendations of the Accounting bodies with regards to taxation reform?

regards

 

[Aceyducey]

So whenever I buy my partner flowers they're a tax deduction so long as they come from one of our companies or trusts

Neat!

 

[geoffw]

Originally posted by Aceyducey
So whenever I buy my partner flowers they're a tax deduction so long as they come from one of our companies or trusts

Neat!

So Jas will be expecting flowers tonight- now that you're on record!

 

[BUNDY]

Forget the flowers, send the caseof wine!!!!!!!

BUNDY

 

[DaleGG]

Hiya Jakk!

I like the way that you think. If the idea is ever voted on, I'll vote for it as often as I can . . .

Good stuff!

Dale

Originally posted by Jakk
Dale,

Have heard that gifts to accountants of greater value than $100 are treated differently under a special ruling from the ATO, and gifts of this nature are allowed a 166% deduction.
Any truth to this or is this just one of the recommendations of the Accounting bodies with regards to taxation reform?

regards

 

[Jas]

Huh. nothing...



Jas

 

[Aceyducey]

Originally posted by Jas
Huh. nothing...

It was the trust's fault!

(Thanks Geoffw, I'm in the bad books now)

Cheers,

Aceyducey

 

[geoffw]

There are only two mistakes one can make on the road to truth; not going all the way and not starting.

Quick, time for the case of wine, before there's a bad case of whine!