At this time of year, employers like to throw parties for clients and employees. This is a great way of saying “thank you” to the team for all their hard work and to the clients for their continuous support. It is also seen as a major exercise of client relationship management.
Giving gifts to clients at Christmas time is always popular and may help win new clients and generate more income for your business. In order to claim gift expenses during tax time, the gifts would need to have been offered with the intention of generating future assessable income.
Christmas is a time where employers like to give gifts to their employees, in the spirit of the season. Along with this they also need to know -