depreciation

The budget’s boost to instant asset write-off is now law

  Federal Budget night announced an increase in the instant asset threshold, and also an extension of which businesses could access the measure. Now the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019 has achieved Royal Assent. (And it did so on 6 April, so your affected clients may appreciate the

[ Read More ]

Peer-to-peer sharing economy sourced assets, and the realities of making a claim

  The now common and still growing phenomenon of peer-to-peer goods exchange sites such as Gumtree or Facebook groups can throw up some interesting scenarios regarding the acquisition of claimable assets and the consequent work-related or business expense deduction claims. In the case of Gumtree, for example, the online buy-and-sell site has enjoyed increasing usage

[ Read More ]

Changes to the depreciation of intangible assets

Business taxpayers will know that asset depreciation is an important aspect to their business’s tax health and longevity. Changes to depreciation of intangible assets  However the importance, and revenue generation role, of knowledge-based or intangible assets has become much more common in the modern business landscape. Innovative companies know that changes in the economy, including

[ Read More ]

Accelerated depreciation for small business gets extended

In the 2015-16 federal budget, the government increased the small business immediate deductibility threshold from $1,000 to $20,000, which was originally due to end at June 30, 2017. But a law amendment bill has recently been passed by Parliament (here it is) that extends that measure by 12 months until June 30, 2018, after which

[ Read More ]