It’s one of the most significant initiatives for businesses in the 2020/21 federal budget, so how will the significant $27 billion asset write-off scheme work in practice? In this month’s budget, the Treasurer announced that almost all Australian businesses will be able to write-off the full value of all new assets purchased over the next […]
How will the government’s asset write-off scheme work? Read More »
The 2020-21 Federal Budget has been described as the most anticipated in our history defining its post-COVID road to recovery despite the country experiencing its worst economic conditions since World War 2. In this article we sift through the federal budget’s contents and what they mean for our nation’s SMEs. Personal income tax cuts The
Australian Federal Budget 2020-21 Wrap Up Read More »
The first day of July 2020 heralds the start of FY20/21 and after a rocky six months for all Australians, there are many important financial changes business owners need to get across. In this article, we discuss the most substantial legal changes from 1 July impacting businesses of all sizes and industries. Minimum wage increasing
Important financial changes from 1 July 2020 Read More »
The ATO has made a number of changes to tax return rules for FY19/20 making this year’s tax return easier, particularly for Australians impacted by coronavirus and bushfires. The tax office is expecting a marked increase in people claiming deductions for working from home or for protective items used for work. We know many of
ATO updated tax return rules for EOFY Read More »
It’s been a ‘business as unusual’ year for business owners and taxpayers and this EOFY will be even more critical than others. To get the most out of your tax return, these top fourteen key deductions mustn’t be overlooked. More importantly than ever, to make the most of and be eligible to receive these deductions,
Top fourteen tax deductions for Tax Time 2020 Read More »
Learn more about the ATO’s crackdown on dubious deductions and who they’re targeting come tax time.
The ATO’s focus on tax deductions and their targets for 2019 Read More »
Every so often the Australian Taxation Office (ATO) sends a ‘shot across the bow’ warning taxpayers where their gaze is focused. Last month in a speech to the National Press Club, Tax Commissioner Chris Jordan did exactly that. Part of the reason for this public outing is the gap between the amount of tax the
The Tax Commissioner’s Hit List Read More »
ASIC is in the midst of a concerted campaign targeting private companies that have outgrown the reporting exemptions.
ASIC targets growing companies in Audit crackdown Read More »
The Federal Budget announced that non-residents will no longer be able to access the main residence exemption for Capital Gains Tax (CGT) purposes from 9 May 2017 (Budget night). Now that the draft legislation has been released, more details are available about how this exclusion will work.
Main Residence Exemption Removed for Non-Residents Read More »
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