Property depreciation changes

Most property investors know that there were changes to depreciation announced in the May 9 Federal Budget. The draft legislation was released recently and cleared up some confusion, but also contained some good news: The changes do NOT affect commercial property. ...

Small business incentives extended

Small business can take advantage of $20,000 immediate write-off In March 2017, as part of Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016, the definition of a small business was changed to include those enterprises with an aggregated turnover of less than $10...

Cars and tax

From 1 July 2017 the following car threshold amounts apply: Income tax There’s an upper limit on the cost the taxpayers use to work out the depreciation for the business use of car or station wagon, including four-wheel drives. They need to use the car limit...

Small Business Restructure Roll-Over

From 1 July 2016, small businesses will be able to change their legal structure without incurring any income tax liability for certain transactions. This applies when transferring active assets that are CGT assets, trading stock, revenue assets and depreciating...

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