The 2023 Federal Budget was announced on Tuesday 9 May 2023, with a focus on cost-of-living relief and modernising our economy. There were 2 very important things not mentioned in the 2023 Budget that may affect you as a business owner: The Temporary Full Expensing measures end on 30 June 2023. The Temporary Full
The Federal Treasurer Jim Chalmers handed down the 2023 Federal Budget on 9 May 2023. The following is a list of highlights from a tax and superannuation perspective. Businesses The instant asset write-off threshold for small businesses applying the simplified depreciation rules will be $20,000 for the 2023-24 income year. An additional 20% deduction
With a Federal Election due in the next 8 weeks, the Morrison Government has just made its bid for re-election with the following headline announcements in its Federal Budget released on Tuesday 29 March 2022: Petrol tax slashed by 22 cents per litre for 6 months from Budget night. 10 million low and middle-income
On Tuesday 29 March 2022, the Federal Government handed down the 2022 Budget. The focus of the Budget is to provide assistance with the rising costs of living. From a small business point of view, two key initiatives were announced: Technology Investment Boost - A $1 billion Technology Investment Boost to encourage small businesses
The number of Australians investing in cryptocurrency (commonly referred to as Crypto) has grown rapidly over the last couple of years, however many investors are unaware of their tax obligations when dealing with crypto. Due to the increase in crypto traders and investors, crypto is an increased area of scrutiny for the ATO. What
The Federal Budget 2021-22 has many announcements and proposals aimed at economic recovery and includes investment in jobs, essential services, business incentives and tax cuts. Budget Highlights for Business Temporary full expensing measures extended until 30 June 2023 – eligible businesses can claim an immediate deduction for the total cost of depreciating assets. Temporary loss
To kickstart the economy after Australia’s massive COVID-19 close down, the Federal Government has released a huge spending and tax cuts Budget for 2020. Here is our summary of the 2020 Federal Budget and what it means for you. This appears to be a great Budget for the young, anyone still working and business
