Winding up or down for Christmas

Christmas is just around the corner, and this is a good time for business owners, staff and employers to have a well-deserved break, depending on the industry. 

For others this is when business ramps up, particularly in retail. 

Remember this is the season for goodwill so if you’re a customer, be kind to all the workers who have to work during what business owners hope will be a chaotic shopping season.

While there is a lot going on, we would like to point out a few areas which may not be at the forefront of your planning.

If your business is looking to host a staff Christmas party or supply gifts to clients or staff, there are a couple of things to remember with regards to the deductibility of these expenses. Any expenses relating to food or drink are only 50 percent deductible. This includes bottles of wine or vouchers, for instance, purchased as gifts. 

Many business owners would normally be taking the time to review their business plans and look at ways to improve business and plan for the coming year. 

However, it’s important to note this year that we have a newly formed government and the biggest coalition we have had. I therefore suggest waiting before any major plans are made, to see what policies may be brought in or changed that could have an effect on your business in the first 100 days of the coalition being in office.

I encourage everyone, where possible, to find some time to wind down, enjoy the warmer weather and spend time with family and friends – hopefully this might be our first decent summer in two years.

This is Greg’s final column for Hibiscus Matters. Many thanks for all those contributions, Greg.