I am an employee at an accounting firm and last year I gave several gifts to major clients of the firm as a "thankyou" for their loyalty throughout the year. I would not consider these people to be close friends of mine. In total the gifts cost less than $300 and consisted of boxes of chocolates, christmas hampers and 1 x bottle of champagne. I was not reimbursed for these gifts.
I have noted that in TD 2016/14 a taxpayer who carries on a business is entitled to a deduction under section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997) for an outgoing incurred on a gift made to a former or current client if the gift is characterised as being made for the purpose of producing future assessable income. However, because I am an individual I am unsure if this also applies to me.
In summary, am I able to deduct these gifts as work related expenses in my individual tax return?
