It’s been anything but business as usual this year thanks to COVID. And with most businesses desperate to conserve cash amid uncertain trading conditions, maximising deductions is not a luxury but a necessity. These handy tax-time tips will ensure your business maximises deductions to conserve all-important cash flow, writes Helen Baker. Learn from mistakes of… Read more »
Poor planning is one of the killers of small business. One big item that many small business operators fail to plan for is TAX, writes Sharon Williams, founder Taurus Marketing. Unfortunately, the better you do, the more you pay. The country has to run and we as small business owners contribute much to keep the… Read more »
Car-related expenses are among the most commonly claimed tax deductions in Australia, with car expenses accounting for some 40 per cent of all work-related deductions. If you use your car for work, you’re entitled to claim back the related car costs, but with the ATO cracking down on car-related deductions it’s important to get clear… Read more »
Following lobbying from small business advocates and the opposition, the Morrison government has announced it will extend the $150k instant asset write-off until December 2020. Businesses making up to $500 million per year will be able to write off new assets worth up to $150,000 each under the extended scheme which was part of a… Read more »
Leading SME lender OnDeck suggests small business owners looking to take advantage of the instant asset write off need to act quickly to secure finance.
A national study has found small business owners are failing to take advantage of the instant asset write off and are missing out on potential deductions
Accounting firm CPA Australia warns that the Government has dramatically underestimated the number of Australians who will be impacted by changes to superannuation.