Nearly 99% of businesses in Australia will be able to instantly write-off work assets as part of a much-needed measure to stimulate the economy. Big news for small and medium business owners! The Federal Budget announced by Treasurer Josh Frydenberg, contains several measures that will offer urgent relief to struggling small and medium businesses. The […]
Government initiatives to support businesses during Covid-19
With the Covid-19 pandemic battering the global economy, the Government’s decision to provide financial assistance through a stimulus package and grants is a wave of relief among small and medium sized business owners, but how do they actually work for us? Financial stimulus package The stimulus package includes payroll tax changes, a tax-free increase from […]
6-Step Checklist for EOFY 2019: Tax Tips for Australian Small Businesses
The 2019 financial year is really coming to a close, and as a small business owner, you are probably feeling petrified of the upcoming “tax time blues”. You don’t have to have a horrible experience during the EOFY, in fact here are some tax tips in 6-steps to help you ease the stress of the “tax […]
Debunking the Myths of the Instant Asset Write-off 2019
It’s been a confusing time for small businesses since the $30,000 instant asset write-off was announced in early April during the federal budget speech. Offering a great opportunity to make larger investments for their businesses while claiming tax depreciation, however, not everyone is entirely sure of whom or what is eligible for the new write-off. […]