For many business owners and individuals, this year’s tax return is going to be like no other. The Covid-19 lockdown and collapse in revenue for some businesses meant that they had to find strategies in a hurry to ensure their … Read More
ATO Assistant Commissioner Peter Holt has announced that, in the 2019/20 financial year, the ATO will be visiting a further 10,000 small businesses across the country, including up to 500 small businesses in Tasmania. He further said that businesses that … Read More
The rules for claiming deductions for payments to workers are changing. From 1 July 2019, businesses can only claim deductions for certain payments made to workers where they’ve met the Pay As You Go (‘PAYG’) withholding obligation for that payment. … Read More
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 … Read More