Small Business Instant Write-Offs

Small Business Instant Write-Offs

Instant write-offs: As part of the Federal Government’s Coronavirus Stimulus Package, the Instant Asset Write-Off threshold increased is $150,000 (net of GST) per asset acquired. This change applies to businesses with an aggregated annual turnover of less than $500...
COVID-19 JobSaver payment – Application Closes 18 Oct 2021

COVID-19 JobSaver payment – Application Closes 18 Oct 2021

For business turnovers between $75K and $50M To here to apply online: https://www.service.nsw.gov.au/transaction/jobsaver-payment On 26 June 2021, the Public Health (COVID-19 Temporary Movement and Gathering Restrictions) Order 2021 (the Public Health Order) was...

Calculating the cost base of real estate

To calculate a capital gain or capital loss, you need to know the cost base of your asset. The basic rules are the same for all assets, but some additional rules apply to calculating the cost base or reduced cost base of real estate. There are a few rules to keep in...

Work-related Travel Expenses

In a general rule, travel expenses which are relevant to gain assessable income are deductible under s8-1 of ITAA to the extent that the expenses are not in a private or capital nature. Travel within Australia: A travel diary or similar documents are required for...