With New Zealand ranked as one of the most giving nations in the World you’d be forgiven for thinking that our tax laws encourage such generosity. Instead, the rules around business gifts are tricky and mean that every time you give a gift you have to work out whether it goes in your staff wages return, needs Fringe Benefit Tax paid on it or if you’ll only get a tax deduction for half the gift (entertainment).
Ridiculous isn’t it, so to help you out here’s what you need to know about a few common client and staff gifts:
