Are Business Meals Tax Deductible?

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Most of us know that, generally, things you buy or spend that are used for the goal of making profit is tax deductible. But it gets VERY complicated when you realise that there are rules around almost every potential deduction, and things aren't so black and white.

Today, we'll be talking about meals with business clients. You might be taking out a client for a meal or coffee with the intent of making more business. You're building a business relationship and networking, and therefore, one could say you're buying meals with the intent of making profit. So is it tax deductible?

The short answer is - it depends. Every situation is unique and the ATO has rulings around particular scenarios to determine what is and isn't tax deductible.

We go into more detail about these rules and regulations, so watch this video to find out!

#daviemach #taxdeductions #accounting #business


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Davie has over 10 years experience in advising businesses in management accounting and taxation issues. He heads up a passionate team at Box Advisory Group who are dedicated to offering proactive and outstanding service to our clients.

Davie’s extensive experience in providing tax and consulting advice and astute business knowledge has paved the way for success for many businesses.

He is a member of the Chartered Accountants Australian and New Zealand, a member of the Australian Tax Practitioners Board and holds a Bachelor of Commerce degree from the University of New South Wales.

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DISCLAIMER: Please note that every effort has been made to ensure that the information provided in this video is accurate. You should note, however, that the information is intended as a guide only, providing an overview of general information available to contractors and small businesses. This guide is not intended to be an exhaustive source of information and should not be seen to constitute legal or tax advice. You should, where necessary, seek your own advice for any legal or tax issues raised in your business affairs.



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