• fine_sandy_bottom@discuss.tchncs.de
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    il y a 7 mois

    here in Australia entertainment expenses are written off at a lower rate than other business expenses.

    Sorry mate. Not really correct.

    If an Australian company pays for entertainment expenses for staff, it’s considered a fringe benefit and fringe benefits tax is payable. It equates to almost the cost of the actual expense. So if a company pays $10k for an employee to take a holiday, they’ll have to pay almost $10k in fringe benefits tax, but they do get a deduction for the whole $20k, which will save them $5k in income tax.

      • fine_sandy_bottom@discuss.tchncs.de
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        il y a 7 mois

        Not really, at all.

        It’s written off at the same rate, while being subject to a whole other type of tax, which means the company pays more tax, rather than less.

        • HydraulicMonkey@lemmy.world
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          il y a 7 mois

          Ok, so the point I was originally trying to make was that claiming a yacht as an entertainment expense was less attractive. Would you agree?

          • fine_sandy_bottom@discuss.tchncs.de
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            il y a 7 mois

            If sticking a fork in your eye is “less attractive” than eating icecream then sure.

            … but let’s be honest, that’s not what you were trying to say. You were just plain wrong. Get over it. No one cares.