Instant asset write-off: is your business eligible?

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Remember temporary expensing, which allowed just about every business (unless annual turnover was at least $5 billion) to immediately write off the cost of an eligible depreciating asset? Well, that is no longer available. To use temporary full expensing, you had to acquire and use, or install ready for use, an eligible depreciating business asset […]

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ATO target areas for tax time 2023

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Tax time 2023 is fast approaching and as with previous years, the ATO has provided some insights to the areas it will be focusing on consisting of rental property deductions, work-related expenses, and capital gains tax. Specifically, the ATO will be targeting loan interest expenses, working from home deductions, and possible capital gains tax where […]

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Tax Time 2022: businesses get ready

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As the end of another tax year approaches, the ATO is reminding businesses that it’s time to: see if there are tax-deductible items your business needs before 30 June; check if there are any concessions your business can access before 30 June; think about your recordkeeping habits this past year – should anything be done […]

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