Taxing lunch: Corporate Taxpayers Group lobbies for rule changes on entertainment

Taxing lunch: Corporate Taxpayers Group lobbies for rule changes on entertainment
Sausage roll – snack or lunch? Corporates say tax laws make a meal out of tracking entertainment expenditure. (Image: AP)
Garth Bray
Sandwiches for senior managers in the boardroom while they chew over tax law advocacy?Fully deductible, no fringe benefit tax.Lunch in the boardroom for the Revenue Minister and Inland Revenue Department (IRD) officials, plus clients whose cause you’re advocating?Only 50% deductible, but still no FBT.Note that these are by way of illustration – seek your own advice on your own tax affairs – but the vagaries of tracking and claiming entertainment expenses are such that they top a list of compliance cost concerns for major corpo...

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