Question
Success Stories Pty ltd provides meals and accommodation in terms of entertainment to its' employees. The company maintained a register book for 12 weeks to
Success Stories Pty ltd provides meals and accommodation in terms of entertainment to its' employees. The company maintained a register book for 12 weeks to track its cost on its employees and clients. The total cost for the year was $25,000. The business identifies that the register percentage for the employees is 60%, and for the clients, it is 40%.
Required:
Apply all the available methods and choose the suitable one to calculate FBT liability for Success Stories Pty Ltd. The employer is not entitled to GST credits for the meal and other entertainment benefits
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