The answer depends on the method selected to calculate the taxable value of the benefit provided. What’s certain is you can’t afford to overpay your FBT obligations.
It’s simple but it’s not precise
It’s precise but reliant on accurate data
Calendars and calculators are required
Concur Expense delivers the data and insight to make the right choice and avoid overpayment. Your company can capture granular attendee expense data and use that data to select the optimal method for calculating your taxable entertainment benefit.
View a real-time snapshot that displays which FBT method – the 50/50 split or actual – will cost more money. By capturing detailed attendee data, Concur can calculate the amount of FBT for each attendee.
Report on your company’s FBT liability to date against budgeted FBT liability, which helps you make informed decisions about entertainment policy.
Quickly identify the highest spenders of entertainment and the nature of that spend, for example, if it’s occurring locally or only whilst travelling.
Gain high-level insight into the company’s entertainment spend for the year.
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