COVID-19 instant asset write off and accelerated depreciation
While many of the COVID-19 stimulus changes such as the JobKeeper payment are grabbing headlines, it is easy to overlook the significance of the $150,000…
Deductions – Business and Capital Expenditure
Read MoreCOVID-19 instant asset write off and accelerated depreciation
Small business: Low-cost assets and the threshold rule
There is a rule in the tax law that allows a business that doesn’t use simplified depreciation to claim an immediate deduction for most business…
Businesses get increased access to losses
In the first quarter of this calendar year, legislation was passed that will supplement the ATO’s current “same business test” for losses with a more…
Staff training costs deductible, but beware FBT
One of the recognised keys to business success is having knowledgeable, efficient and well-trained staff. But it is not always possible (or is indeed rare)…
The same business test to be replaced by a “similar business” test
Among the first batch of tax legislation the government dealt with in the new year was a bill that contained changes to the “same business”…
Removing tax deductibility of ‘non-compliant’ payments
From 1 July 2019, businesses will only be able to claim deductions for payments that are made to workers (employees or contractors) when the employer has…