If you as a business owner or company providing services such as Building and Construction Cleaning Courier or Freight Information Technologies (IT) Security, Investigation or Serveilaince And if you are hiring contractors, sub contractors or consultants, you are required to submit Taxable Payment Annual Report. In short, it is referred to as TPAR. They can …
From 1 July 2018 the following car threshold amounts apply. Income tax There’s an upper limit on the cost you use to work out the depreciation for the business use of your car or station wagon (including four-wheel drives). You use the car limit that applies to the year you first use or lease the …
All small business owners are encouraged to apply three simple rules when claiming their business expenses Expenses have to be business related If the expenses are mixture of private and business use, you are allowed only expenses that are used for business purpose Lastly you must have records for the expenses claimed in your business …
Good news! The ATO has increase the instant asset write-off threshold to $30,000 and extended to 30 June 2020. If you purchase an asset (new or second hand) costing less than $30,000 and it is used or installed ready for use from 7:30pm AEDT on 2 April 2019, you can claim a deduction for the business portion. …
Instant asset write-off threshold has been increased to $30,000 Read More »
