by Emma Grima | May 17, 2021 | Uncategorized
what does the 2021 federal budget mean for you and your business Instant Asset Write Off for all Business under the $5 Billiion Turnover Extended for another year until 30th June 2023 This is a tax deduction and will reduce your taxable income only. Any balance of...
by grima-chelsea | Oct 7, 2020 | Uncategorized
To stimulate investment Instant Asset Write Off for all Business under the $5 Billiion Turnover From the 7th October until 30th June 2022, it is proposed all businesses are eligible to write off ANY asset purchased from 7th October up to 30th June 2022 in FULL to...
by grima-chelsea | Apr 7, 2020 | Uncategorized
Tax Tips EOFY for Small Business Perform end of year stock take – write off any obsolete stock/slow stock. Small Business Entity (SBE) does not have to account for stock if less then $5,000 movement. Recommendation is still to...
by grima-chelsea | Mar 7, 2020 | Uncategorized
Cash Flow Boost for Employers If you currently pay yourself a wage (via a company/trust only) or have employees and are registered for wages, you can be entitled to receive a payment of minimum $2,000 up to $25,000. This is a temporary cash flow support for small to...
by grima-chelsea | Apr 7, 2019 | Uncategorized
Budget Highlights April 2019 (proposed but not legislated) Individuals Increase to the Low and Middle Income Tax Offset (LAMITO) from 1/7/2018 of up to $1,080 non-refundable offset for taxpayers less than $90,000Changes to personal tax rates from 1/7/2022,...
