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Posts Tagged "Tax"

Do you lodge your tax returns on time?

Do you lodge your tax returns on time?

Do you want to reduce your likelihood of being in the Australian Taxation Office’s (ATO) spotlight? One way to achieve this is by getting your tax returns in on time. For self managed superannuation funds (SMSF) in particular, tax returns are a big issue.  If a fund fails to lodge a tax return on time it breaches section 35D of…read more →

What changed on 1 July?

What changed on 1 July?

For business Small businesses now have access to:   An immediate deduction for depreciating assets costing less than $6,500 (GST exclusive) An immediate deduction on the first $5,000 for new motor vehicles used for business purposes All other assets depreciated at 15% in the year of purchase and 30% in future years. Companies are now able to ‘carry back’ up…read more →

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