Government changes to Meal Entertainment and Venue Hire benefits
11/30/2015 10:16:24 AM
Government changes to the Meal Entertainment and Venue Hire benefits
Effective from 1 April 2016, a single annual cap limit of $2,550 ($5,000 ‘grossed-up’) applies to Meal Entertainment and Venue Hire benefits.
This new limit is a combined cap across both benefits applicable each Fringe Benefits Tax (FBT) year (from 1 April to 31 March the following year).
What happens to my deductions after 1 April 2016?
Once you reach the $2,550 cap, your deductions will stop. Your deductions will begin again at the start of the next FBT year (1 April 2017).
Do I need to do anything?
There is nothing you need to do. We will contact you to let you know when you’ve reached the limit and when your deductions are about to stop.
For more detailed information on how we’re managing the changes to Meal Entertainment and Venue Hire, take a look at our FAQs.
Ready to find out more?