Eligible businesses will immediately be able to deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.
The 2020 Budget has been dubbed the road to recovery for the Australian economy as we bounce back from the impact of the COVID-19 Pandemic.
Short answer - probably! Read here for the full answer, and also consult with your tax agent for individual advice!
Dealing with the Australian Tax Office is a very common part of our job. While it does come with challenges, it brings so many benefits to our clients that wouldn't be easily accessible if they were to try to tackle the ATO on their own.
The Christmas Party Tax is a real Grinch. This is a quick guide on how to factor in (or what to avoid) when it comes to FBT on your staff Christmas Party this festive season.
The ATO is cracking down on FBT Logbooks, so it's more important than ever to make sure you're logging your work vehicle use.
You might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. Do you know what powers the ATO have?
The ATO is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy. They plan on visiting over 10,000 businesses in the 2020 Financial Year.
There are a lot of common misconceptions about low income and tax returns. There are many reasons why someone under the tax-free threshold may need to lodge a tax return.
As always, the months have flown by, and we're already nearing the end of financial year. Here's a handy checklist to run through to make sure you're all up to speed as June 30 closes in.