Submission on What is the income tax treatment of gift cards and products provided as trade rebates or promotions?
CA ANZ’s feedback on the draft Question We’ve Been Asked (QWBA) PUB00462
This Question We’ve Been Asked explains the income tax treatment of gift cards and products provided by trade suppliers to trade customers (business to business) as trade rebates, promotions, or rewards for trade customers buying goods or services from trade suppliers.
To enhance the document, CA ANZ suggests that the QWBA also address topics such as the GST implications of these arrangements, the income tax treatment when services are provided instead of products, and other relevant considerations.