Any food and drink is either a business expense or entertainment. Whether it is one or the other doesn’t just affect income tax, but also GST and FBT.
The minor benefit rule is the one exception that turns a non-deductible contribution into a tax-deductible gift. Minor Benefit Rule Is the ticket for a fundraising dinner a tax-deductible gift? Is a successful bid at a charity auction a tax-deductible gift? The short answer is ‘No’. The person paying gets something back in return for […]