Tax & Accounting

//Tax & Accounting

2019 Energy Discounts & Rebates.

Households and businesses can access discounts & rebates in 2019 via the NSW Government's energy efficiency program: FOR HOUSEHOLDS These links provide offers to improve energy efficiency in your home. By accessing rebates and discounts you can cut back on your energy use, save on power bills and help the environment. These programs are available to [...]

May tax news

The Government handed down the 2019/20 Federal Budget on Tuesday 2 April 2019. Some of the important proposals include: Increasing and expanding access to the instant asset write-off from 7:30 pm (AEDT) on 2 April 2019 (i.e., ‘Budget night’) until 30 June 2020, as follows: increasing the instant asset write-off threshold from $25,000 to $30,000. [...]

Instant asset write-off expanded

4th April 2019 The government’s instant asset write-off expansion was passed through the Senate yesterday afternoon and is expected to be voted on in the lower house later today. What is  the Instant Asset Write-Off? If you buy an asset for your business and it costs less than $20,000 (see table below for varying amounts), [...]

March Tax News

Changes to the small business instant asset write-off On 29 January 2019, the Prime Minister announced that legislation will be introduced to: extend the small business instant asset write-off by 12 months to 30 June 2020; and increase the write-off threshold from less than $20,000 to less than $25,000 (effective immediately). The current threshold of [...]

November tax news

Fast-tracking tax cuts for small & medium businesses The Government has fast-tracked the already legislated tax cuts to small and medium businesses by bringing them forward five years. Companies with an aggregated turnover of less than $50 million will have a tax rate of 25% in the 2022 income year (instead of the 2027 income [...]