Did you know that you can also claim your money back on business related activities from Inland Revenue (IRD)?
There are two kinds of deductible entertainment expenses. Which are 50% and full deductible entertainment expenses. We have summarised all the lists within these two types of expenses deduction.
50% deductible entertainment expenses
- Corporate boxes (expenses for entertainment you provide in boxes, marquees, and tents)
- Holiday accommodation (business trip)
- Recreational boats (business trip)
- Food and drink at work (business social event, party)
- Supporting expenses (such as running costs, repairs and maintenance for corporate boxes, holiday accommodation and recreational boats, hire of crockery, glasses, waiting staff and music.)
100% deductible entertainment expenses
- Food and drink (including: food and drink while travelling on business, food and drink provided at a conference, light meals provided in a dining room for senior manager)
- Secondary promotion costs and freebies for business promotion
- Entertainment for review (including magazine, newspaper, and website)
- Entertainment as a business
- Entertainment supplied for charity
For more info visit: http://www.ird.govt.nz/forms-guides/number/forms-200-299/ir268-guide-entertainment-expenses.html