#Instant Asset Write Off
Instant Asset Write-Off becomes permanent feature ending years of year-to-year changes
Tax leader Susan Franks explains how making the $20,000 asset write-off permanent cuts red tape and supports business confidence after years of changing thresholds.
Cloud accounting advancements have led to more SMEs doing their own tax, says MYOB
An increasing number of small business owners will complete their tax returns themselves this year, according to research undertaken by cloud accounting provider MYOB. The company’s June SME Snapshot revealed that 41% of owners plan to complete their own returns, up from 41% last year. John Moss, MYOB’s chief strategy officer told Dynamic Business that […]
Most small businesses owners haven’t taken advantage of the $20k instant asset write-off
The Australian Small Business and Family Enterprise Ombudsman has encouraged small business operators to take advantage of the Government’s instant asset write-off extension. More businesses are now eligible to buy equipment (new or second hand) up to $20,000 and write it off immediately after legislation passed the Senate. Multiple claims can be made under the […]
Confusion continues over instant asset-write off
Clive Palmer has caused a headache for the government on carbon, but his positioning on the mining tax repeal has heightened uncertainty over a key small business tax break.
Your tax return made easier
It’s that time of year again when small business owners are preparing their tax returns and going over their paperwork with a fine tooth comb. To help you with your EOFY preparations, Dynamic Business, spoke with Tax Counsel at the Tax Institute, Stephanie Caredes and Senior Tax Adviser at the Institute of Public Accountants, Tony […]
How the instant asset write-off helps SMBs
Many small businesses are missing out on a key tax perk, with many unaware of the Federal Government’s $6500 instant asset write-off.