Introduction With 30 June 2020 a mere few sleeps away, now is the opportune time for accounting and tax professionals to enjoy some light-hearted relief from the ongoing challenges of a difficult 2020 financial year. The TaxBanter team presents the following...
Small Business articles.
The small business tax concessions
Oct 16, 2019 | Small Business, News
In May 2018, the Board of Taxation (the Board) commenced a review of the small business tax concessions (the Review). Dr Mark Pizzacalla, the Chair of the Review and a member of the Board, recently confirmed in a TaxBanter Tax Yak Podcast (episode...
The post-election landscape
May 29, 2019 | Federal Election, Federal Budget, News, Parliament, Small Business, Superannuation
Background The Federal Election held on 18 May 2019 returned a Coalition Government with a majority in the House of Representatives (although counting continues in some seats). At the time of writing, one seat remains in doubt. Following the dissolving of...
New instant asset write-off
Apr 11, 2019 | News, Small Business
Background Small business entities (SBEs) may choose to apply the simplified depreciation provisions and calculate deductions for the decline in value of their depreciating assets under Subdiv 328-D of the ITAA 1997 instead of Div 40. This requires them to:...
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