Blog - CS Accountants
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The Christmas break is on the way, and many businesses will be planning their annual year-end break-up party. However, an important issue for businesses to consider is the possible FBT and income tax implications of providing 'entertainment' (including Christmas parties) to staff and clients.

The ATO has issued a taxpayer alert warning people to be cautious about arrangements promoting a tax deduction for gifts of pharmaceutical items to charities for use overseas. With these schemes the taxpayer makes a cash deposit for a vendor to purchase pharmaceuticals from a low cost overseas supplier.