A small nudge before the FBT year ends
The FBT year finishes on 31 March.
Before sending through your information, it’s worth taking a moment to nudge a few things into shape.
One area that often creates confusion is how items like meals, events, tickets and gifts are coded in your accounts.
Small details here can make a meaningful difference to the FBT outcome.
Where things commonly go off track
We often see items like these coded inconsistently:
• client lunches or drinks
• golf days or team events
• sporting tickets or corporate boxes
• staff or client gifts
• meals while travelling for work
The treatment of these can vary depending on the nature of the expense, who attended, and the purpose of the event.
Capturing those details upfront - and allocating them correctly - helps ensure you aren’t paying tax on things you shouldn’t be.
A simple way to get ahead
We’ve put together a short guide to help you quickly review your accounts before sending through your FBT information.
It covers:
• how to classify meals, activities and hospitality
• where gifts and travel typically sit
• the small details that help determine the FBT outcome.
The takeaway
Often it’s not the expense itself that matters most — it’s the context around it.
Taking a few minutes now to review these items can make the FBT process smoother and may help minimise the administrative burden of FBT time.
A few minutes reviewing this now can save a lot of back-and-forth later.