Legislative update (Acts)
Many Bills managed to become Acts before the dissolution of Parliament. In this article, we look at those pertaining to business taxation.
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2019 Tax Planning
Now that the Federal Election has been won by the Coalition, our combined focus needs to be on how you can save tax before 30 June 2019! Read on for more information on how the tax offset may directly reduce the amount of tax you have to pay.
Minimise your business tax
Read our guide to the strategies you can use to minimise your business tax. Talk with us before the 30 June 2019 deadline for assistance to reduce your tax!
Increasing and expanding access to the instant asset write-off
The Government will still proceed with its previously announced measure to allow SBEs an instant asset write-off for eligible assets costing less than $25,000 that are first used or installed ready for use from 29 January 2019 until 7.30pm (AEDT) on 2 April 2019.
Federal Budget summary 2019–20
The 2019-20 Federal Budget is designed to showcase the return to surplus (and by default the Government’s economic credentials) and engage voters with initiatives to make them feel like they are more prosperous. A massive infrastructure spend adds to this sentiment.
ALP key tax policies
We’re not recommending who to vote for, but it’s important that you have an understanding of how these potential tax and other changes could affect you.
Business Update: Recent legislative changes
Over the last few months, several proposals have moved through the Federal Parliamentary Process and become enshrined in law.
Instant asset write-off
The PM announced this week that the government will introduce legislation to increase the $20,000 instant asset write-off threshold to $25,000 from 29 January 2019 until 30 June 2020. (We’ll keep you posted as this proposal is not yet law.)