The new temporary full expensing rules provide businesses with a turnover of up to $5 billion with an immediate deduction for 100 per cent of the cost of eligible depreciating assets. The provisions are set out in new Subdiv 40-BB of the Income Tax...
Tax Time articles.
Claiming expenses for working from home during COVID-19
Jul 22, 2020 | Tax Time, COVID-19 updates, News
Note: Check out our accompanying podcast here! The deductibility of home office expenses Expenses associated with the running of an individual’s home are usually private and domestic and nature. However, deductions for ‘home office expenses’ may be available...
Some light reading for EOFY – Dr Seuss applies for JobKeeper
Jun 26, 2020 | Tax Time, Just for fun
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...
$150,000 instant asset write-off extended to 31 December 2020
As part of its Economic Stimulus Package in response to COVID-19, the Government temporarily expanded access to the instant asset write-off (IAWO), under which businesses can claim an immediate deduction for certain expenditure incurred in relation to new depreciating...
Categories
Search for articles
Did you know?
Tax Yak and Banter Blog content will generally be eligible for CPD hours. Please check with your professional or regulating body to confirm.