Our 3 hour FBT Essentials Update 2012 is designed to cover what you need to know in relation to the important LAFHA changes, outline the opportunities with the FBT Relocation exemptions & discuss the latest in Salary Packaging. The best $250 you could spend on training this year – register by 31 August.
What we will cover:
Understand the LAFHA changes from 1 October 2012 for employers & employees
The new emphasis on Relocations
The latest on Salary Packaging
Common FBT mistakes you can avoid
Entertainment – the everyday tricks, traps and valuation issues
ATO audit focus areas including cars, travel, in-house benefits, exempt benefits and more
Who should attend:
Anybody involved with managing or administering FBT, employee contracts or employee expenses should attend. This will include those in Finance or Tax roles and Human Resources & Payroll personnel.
Sydney Hilton – Wednesday 12 September
Melbourne Hilton on the Park – Wednesday 19 September
Covering meal entertainment, travel expenses, food and drink costs, local, overseas travel allowances, tax reporting and policy
Designed for Finance, Accounts Payable, HR, Payroll and Tax personnel
FBT Solutions is delighted to offer you the opportunity to attend a half day training seminar that will explain the rules to do with employee expenses, food and drink, entertainment and travel expenses.
What we’ll cover
If your organisation provides or reimburses any of the following:
• Employee expenses
• Meal costs
• Entertainment expenses
• Travel advances
• Business travel reimbursements
• Travel allowances
• Per diems
• Living away from home allowances
Anything else? Once you’ve registered, we’ll send you a Questionnaire – to make sure we cover what you need to know!
What you’ll get
• User friendly guidelines for Meal Entertainment, Food & Drink Costs & Other common employee expenses
• A full set of seminar notes including practical examples
• Plenty of question time
• Free follow up query service
CPD/CPE hours: 4 hours, certificate will be provided
Seminar content includes
• Motor vehicle expenses
• On premises meals v off premises meals
• Credit card reconciliation
• Foreign currencies
• GST free & input taxed purchases
• Travel diaries
• Tax invoice requirements
• Recommended accounting processes
• Correcting mistakes
• Understand the FBT, GST & Income Tax implications
• Travelling employees
• Non travelling employees
• Overseas visitors
• Policy requirements
• Travelling clients
• Non travelling clients
• FBT Reporting
• BAS Reporting
• Employee Payment Summary Reporting
• Light lunches
How much does it cost?
Your investment: $440 including GST Register by 31 August: $385 including GST.
HUNG up the ”Will Not Return” sign and headed out for three boozy courses and a couple of hundred-dollar bottles lately – or has post-GFC austerity put the kibosh on the long and lavish lunch?
Investor John Mactaggart, a one-time lunch scene stalwart, thinks so. The fringe benefits tax killed the boozy blowout the first time around and the GFC has dealt the resurrected version a similar death blow, he says.
A founder of the listed software vendor Technology One, Mactaggart now limits himself to an annual afternoon-into-evening session with his accountant and shorter affairs at restaurants and clubs once a month. Between times, there are lots more ”cups of coffee down the road at 10 or 11” than once there were.
”People have become more selective about what they do and how they do it,” Mactaggart said. ”You enjoy it when it’s there but there’s always something else to do. People are busier – most people don’t even go for a walk at lunchtime. They don’t see the value in the sort of old-fashioned networking of the boozy lunch. There’s a perception that unless you’re doing work, you’re not working.”
Retail development consultant David Hedemann reports a similar pattern of non-consumption in the construction world; a sector once renowned for keeping fine dining establishments and gentlemen’s clubs ticking over on a Friday afternoon. ”It’s not happening in bigger companies any more – budgets have been cut back,” Hedemann said.
”Lunches have become a lot more targeted – the ‘payback’ needs to be more immediate.”
Hedemann’s weekly five-star nosh-ups of a decade ago have also been replaced with ”a lot of coffees”. When more substantial entertainment is called for, prospective clients are invited to Property Council of Australia functions, where guest speakers and networking opportunities mean it’s not just a straight junket.
The popularity of this sort of multi-function entertaining is rising, as the boozy lunch wanes.
Founder of the Business Chicks networking group Emma Isaacs said booking tables at organised events had several advantages over old-style, one-on-one schmoozing.
”You can take eight people at once and do networking that way,” Isaacs said. ”It’s more cost-effective and everyone can mix.”
Corporate abstinence has helped tighten the pinch for many silver service restaurants already struggling with dwindling demand for top-end fare in the evening.
In Sydney, high-profile casualties this year have included Ad Lib, Etch and the Berowa Waters Inn while further north, the Queensland Rugby Club, once the place for suits to be seen, went into liquidation earlier this month.
Fine dining comprises 40 per cent of Australia’s $14.3 billion restaurant bill each year, according to IBISWorld research. A more prudent spending climate has kept growth to 1.1 per cent a year since 2007, IBISWorld senior analyst Naren Sivasailam said.
But prudent is as prudent does, according to restaurateur John Fink. His family company owns Quay, Otto and The Bridge Room, top-end Sydney nosheries where tabs don’t come in under $100 a head. Fink says his midday tables are still well stacked with politicians and high flyers, corporate cutbacks or no.
”People may not be spending hundreds and hundreds on a bottle of wine but they haven’t stopped spending either,” Fink said.
Rather, business diners were condensing their meals into a 90-minute window and eschewing random largesse for a more targeted approach to entertaining.
”People don’t have time to go pissing it up and having three-hour lunches,” Fink said. ”Yes, people are spending, but only when there’s an actual goal. People are going for the cheaper options, but if they want to impress they come to us, or Neil Perry – when it counts.”