Master these 9 exceptions to claim input tax on entertainment
We all know that claiming input tax is limited on entertainment expenses. Yet, this remains an area often conveniently overlooked by those new to the game. Sometimes, even experienced operators forget.
Here’s an easy-to-use reference guide so you don’t make input tax mistakes with your entertainment expenses again.
The general rule is clearly stated: no deduction from any output tax is allowed nor can you claim any Vat refunds for goods and services acquired for entertainment. Of course, this is tempered by the nine instances when you can still claim input tax.
When you order the Practical Tax Loose Leaf Service you will receive the 30 Tax Saving Secrets E-Book free. Here are 3 of the 9 exceptions you will find in the 30 Tax Saving Secrets E-book with regard to claiming input tax on entertainment:
- Exception #1: Make it your business to entertain
- Exception #2: Why you should spend nights away
- Exception #3: It pays to feed your customers en route
start your 14 day risk free trial of the Practical Tax Loose Leaf Service now!
What else you'll discover in the 30 Tax Saving Secrets E-book:
- The “Bluffers Guide” to logbooks – maximise your travel claims
- Three tips to keep your trust out of court
- Beware of these 8 common fringe benefits – they will be taxed!
- Can you be an independent contractor when you’re working through a labour broker?
- Three important guidelines to avoid unexpected Vat consequences when buying or selling a business
- Recover your Vat refund when you change how you apportion your Input Tax
- Private taxable travel now has an exception to the rule: take advantage!