Travel

Eliminating Tax Receipts While Travelling

I lately did a technical presentation in Bangkok to several family business owners. Even though the fabric, and discussions later on, were enlightening, I had been wanting to see a number of this excellent city.

Several us visited the Skybar. It had been incredible. The vista was amazing. The folks (except me obviously) were dead set beautiful and also the atmosphere was electric. I’d one evening within this city and that i desired to really go through it.

The people beside me were also present inside my seminar. The conversation moved around however it inevitably returned to how our business attempted to affect on families which were branching overseas – and Asia particularly.

After that it grew to become time to purchase a glass or two for that group.

A beer cost AUD $25. Ouch.

There was 16 people present.

Double ouch.

Anyway. I drawn it in and purchased a round. At no stage could I’ve done a jogger around the group. First of all it’s not awesome and next it could have been the hug of dying for just about any fledgling relationship.

However the question hangs. Could it have been fair of me to charge this cost to my company? How can you make certain everyone is equal? How can you balance up requirements of different proprietors? Can One obtain a tax break? And how can you keep receipts for those these items?

Enter the idea of a travel allowance. This stuff essentially get rid of the have to keep receipts while travelling so come tax season your existence building a family business will be a lot simpler.

So what exactly is a travel allowance?

It’s a payment to pay for the expense while an worker is travelling abroad for work. Typically a travel allowance covers the price of meals, incidentals and accommodation around australia only the price of meals and incidentals while overseas – also it doesn’t need to be supported tax invoices.

You are able to pay a travel allowance to the worker even when they don’t get a salary. This will be significant inside a family business as family people are frequently working company directors but don’t get a straight PAYGW salary.

Derrick James
the authorDerrick James
Derrick Williams: Derrick, a political analyst turned blogger, covers national and global politics with clarity and depth. His thoughtful, unbiased reporting makes his blog a highly trusted resource.