Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the cost of improvements to existing...
Tax shortcuts for working from home deductions, JobKeeper payments, and more. The Australian government is doing a good job of supporting the country through this unprecedented time of crisis but how will these actions affect audit activity for the rest of 2020? In...
This is a short and sweet summary of how tax would work in relation to a government business grants. Income Tax Grants are likely to be taxable unless they are specifically excluded from tax. If the grant relates to your continuing business activities, then it is...
19 August 2019 Tax time tips: the ins and outs of business related travel expense claims. If you operate a small business, chances are you’ve incurred travel expenses as part of your day to day business activities. In most cases, these expenses will be tax...
17 July 2019 As tax time rolls around again, it’s important to understand what you need to declare as income, and what you can claim as tax deductions. Below is a list of items that you may need to consider, depending on your individual circumstances. Income...
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