Can donations be included in the cost of doing business?

Donations made in the name of a company or individual to a government-certified charity can apply for a tax credit from the Inland Revenue Department to be included in the cost of doing business.

If a project is sold before it is completed, is the expenditure during the development phase of the project as an expense?

Normally, if you work on a project, when you sell it, it is included in the cost of goods sold, and it is no longer recorded as an expense.

How do I record the cost of a business meal with a client?

For business meal expenses, you can only credit 50% of the cost as a deductible amount because it has a large private component. Even if you think the private component is more or less than 50% of the fee, you can only deduct 50% of the fee.

Is there GST on bank charges?

No. Bank charges are exempt from GST as these are defined as financial services, which are exempt from GST.