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Archive for May, 2017

Planning for 30 June 2017

Planning for 30 June 2017

Here are our top tips for planning prior to 30 June: Accelerate deductions For businesses, if your cashflow is good, make the purchases you need before the end of the financial year to claim the deduction, particularly those with turnover under $10 million. For individuals, it’s a good time for charitable giving. Delay income – One off opportunity for high-income…read more →

Why 90,000 more businesses can access the $20,000 instant asset write-off this year

Why 90,000 more businesses can access the $20,000 instant asset write-off this year

The popular $20,000 instant asset write-off for small business entities, which enables small businesses to immediately write-off depreciable assets costing less than $20,000, is now accessible to 90,000 more businesses. Until recently, this instant write-off was only accessible to businesses with an aggregated turnover of less than $2 million, however following a last minute deal struck between the government and…read more →

Budget Update

Budget Update

The Treasurer handed down the Budget 2017/18 at 7.30pm on Tuesday 9 May 2017. In short, the Budget proposes a series of measures targeting gaps in healthcare, first home ownership, foreign workers, investments and bank accountability. It also delivers $75 billion in infrastructure projects. Key Budget measures include: Business Extension of the $20,000 immediate deduction until 30 June 2018; Contractors in…read more →

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