Expanding accelerated depreciation for small businesses

Small businesses can claim an immediate deduction for most depreciating assets purchased after 12 May 2015 and first used or installed ready for use for a business purpose: from 7.30pm (AEDT) on 2 April 2019 until 30 June 2020, if they cost less than $30,000 each from...

INCOME TAX 2016

  2016 tax time will be here in two months, there will be changes for income tax returns, and there will be some points that we need to pay attention to. The ATO will both change and introduce several rules this year: Car expenses – tax deduction rules From 1...

Using Accounting Software to Improve your Business

Are you still using paper-based accounting systems for your business? Did you know there are many accounting software programs on the market that can help you with your bookkeeping? It not only saves your time but keeps a more accurate record. Some people may be...

New Year, New You?

Fireworks have burnt out and the festive season has faded away. We’ve all returned to work and the daily routine, with our resolutions ringing in our heads. Did you vow to have a better and easier 2016 like most people across the globe? Did you know you are...

Guide for rental property owners

The Australian Tax Office (ATO) has recently released the 2015 Rental Property Owners Guide. This contains a large amount of information relevant to investment owners including what income and expenses you have to declare on your tax return and what deductions you can...