Can a company claim GST on gifts given during company events or dinner and dance functions?
Not always. Under the deemed supply rule, GST incurred on gifts may not be claimable if the value of the gift given exceeds S$200 (excluding GST).
What is the deemed supply rule for GST?
The deemed supply rule may apply when gifts are given away by a business. Where the value of the gift exceeds the prescribed threshold, GST consequences may arise and the input tax claim may be restricted.
How can businesses simplify GST compliance for staff rewards?
Businesses may consider alternative forms of staff rewards, such as cash gifts, to simplify the GST compliance process.
