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.
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.
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.