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coops



Joined: 22 Jun 2011
Posts: 1

PostPosted: Sat Oct 15, 2011 9:40 pm    Post subject: Entertainment Reply with quote

I wonder if anyone can help me with a question on entertainment. I spoke with an ATO representative at a seminar about this issue and I think this is what I was told -
1. If a director of a company (referred to herein as an employee) takes a client out to lunch locally then the expense is split 50/50. 50% is for the employee and is a fringe benefit and the other 50% for the client is entertainment which is not claimable.
Now, my question is, "How do I record such a transaction?"
2. Now if the director stays overnight somewhere and takes a client out to lunch, 50% for the employee is travel and is claimable and the other 50% for the client is entertainment and is not claimable.
Question again, "How do I record this?"
Would really appreciate some help on this.
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