The cost can be exempt as either an exempt property benefit or an exempt minor benefit.
Exempt Property Benefits
Exempt Minor Benefits
(Applicable when the property benefits exemption doesn’t apply, i.e. because the party is held at a restaurant or separate venue).
Gifts are also considered separately from the Christmas party, so provided the cost of a gift and the party are each less than $300, then both would be exempt from FBT.
The minor benefits threshold of less than $300 applies to each benefit provided, not to the total value of all associated benefits.
October - December 2018 archive