January 30, 2019
Yesterday, The Morrison Government announced its intention to increase the instant asset write off to $25k.
The write off will be for small businesses with a turnover of below $10m and will be available until 30 June 2020.
This is a great outcome for small businesses and will allow small businesses to bring forward their deductions for assets, improves cashflow and simplifies their record keeping obligations.
The government will attempt to legislate the changes when parliament resumes on 12th February 2019.
- 2018/19 Year-end Individual Tax Return Checklist
- 2020/2021 Federal Budget
- ALP Key Tax Policies
- ATO warning regarding annual leave loading and OTE
- Australian Cattle Herd Numbers Fall to Lowest Level in Over 20 Years
- Beware of Scams
- COVID 19 – Federal Government Support
- Deferred repayments. Is accrued interest on deferred loans tax deductible?
- Fast-tracking tax cuts for small and medium businesses
- Financial Budgeting for Success
Copyright © 2022 Knight Public AccountantsRockhampton | Accountant | Tax | Xero | Audit
Made with Zakazukha