Private Businesses

Small business $20,000 instant asset write-off extended 25th May 2018

The $20,000 instant asset write-off is being extended for another 12 months for businesses with an aggregated turnover of less than $10 million so that it will now expire on 30 June 2019....

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Australian Federal Budget Review 2018 8th May 2018

In the run-up to the Federal Budget, two things were expected, a budget that responsibly delivered tax cuts and also a budget that delivered ‘meaningful’ tax reform....

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ATO cracking down on your work-related expenses! 4th May 2018

This year, the ATO is cracking down on taxpayers claiming incorrect ‘other’ work-related expenses. It’s important to make sure you don’t claim more than you are entitled to!...

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Single Touch Payroll reporting: ATO urges employers to get ready 26th April 2018

The ATO is urging employers with 20 or more employees to start preparing now for the Single Touch Payroll (STP) reporting regimen, which will be mandatory from 1 July 2018....

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The write-off threshold of $20,000 will cease on 30 June 2018 29th March 2018

If you buy an asset and it costs less than $20,000, you can immediately deduct the business portion in your tax return. The $20,000 threshold applied from 12 May 2015 and will reduce to $1,000 from 1 July 2018....

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Do you provide cars, holidays or club membership to your employees? 23rd March 2018

Rewarding your employees beyond their usual salaries is a great way to show your appreciation for a job well done.If you do provide your employees with benefits or lifestyle assets to use for their personal enjoyment, it is important to remember that these benefits and assets may have fringe benefit tax (FBT) implications for your business. ...

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The small business $20,000 instant asset write-off extended! 26th February 2018

The small business write-off threshold of $20,000 has been extended to 30 June 2018 and is available to all small businesses with an aggregated turnover of less than $10 million. After 30 June this year, the threshold will reduce to $1,000....

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Insights into better people performance 8th December 2017

All business owners will tell you that the absolute key to their business is people. But Jim Collins, the best selling author of ‘Good to Great’ made the distinction that it is not your people but the ‘right people’ that drive performance in the business....

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Protect yourself; no-one else can do it for you 7th December 2017

We all know how much more litigious our society is becoming . . . and we’ve all heard horror stories of how some unexpected business risk appeared from left field and totally destroyed someone. “It was never meant to happen.”...

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Kelly+Partners Taxwise: Private Businesses News - November Edition 6th December 2017

In the November 2017 edition of Taxwise Private Businesses News, we look at the latest topics and insights affecting Private Businesses....

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