Tax questions? You ask lah! #38

Published: Wed, 09/01/21

Tax questions? You ask lah!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

Q:
Is farewell lunch or dinner eligible to get 100% tax deduction?

A:
If the farewell lunch or dinner is held before the staff leaves, it is eligible to claim 100% tax deduction as staff entertainment.

P.S. Because the entertainment is still for your staff, so do it before your staff leaves. 😊

Is the cost of lion dance performance eligible for claiming tax deduction?

A:
It depends on the purpose of hiring the lion dance performance. If it is for an event related wholly to sales, e.g. launching of a new product, then it is 100% tax deductible. If it is only for festival celebration, then it is not tax deductible.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!

P.P.S. If you're liking these little tips, you can't imagine how much you'll get out of my course! View the course here: bit.ly/youaskzenlah

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