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Tax on travel, entertainment


CAROL MARTINDALE, [email protected]

Tax on travel, entertainment

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Tax free allowances for travelling and entertainment granted to employees will soon be no more.
That’s because Minister of Finance Chris Sinckler  has announced in the Budget today that starting from the current income year, these  tax free allowances will be eliminated.
This measure, he said, will result in revenue savings of $25 million.
“This allowance  was discriminatory to the self employed and corporations as such persons had to prove that the travelling was in fact expended and in the case of entertainment that the funds were expended for the purpose of earning revenue”.
He noted that the employees given these allowances were not required to do so.

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