Sage 50 Canada

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Gift Card for customer

Posted By Moto over 8 years ago

Hello,

New Year is around the corner, and our company will purchase some gift card for customer as thank you gift. How do I entry this kind of transaction ? (Treat is as advertising and promotion?)

Thank you in advance.

Wish everyone have a Happy New Year.

Moto

0 Alwyn over 8 years ago

If the gift cards are for a restaurant, or similar, then I would treat them as promotional.
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0 Moto over 8 years ago in reply to Alwyn

How about the gift cards are for our vendor?
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0 RandyW over 8 years ago in reply to Moto

As long as these gift cards are:

- not for an employee, and they are

- gifted in relation to doing business with an 'unrelated' person or corporation, and they are

- not one of the things that CRA does not allow your business to deduct,

you probably can deduct them.

For specifics, you should check with a tax professional, and / or the CRA web site.

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/bnfts/gfts/mnnfctrr-eng.html Gifts / awards to a customer

http://www.cra-arc.gc.ca/gifts/ Gifts to employeeshttp://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/menu-eng.html

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/menu-eng.html Business expenses
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