Temporary Full Expensing of Depreciating Assets
Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year it is first used or installed ready for use for a taxable purpose. You may be eligible for temporary full expensing if you are one of the...
Christmas parties and gifts and FBT 2022
It is that time of year again that employers are organising the annual Christmas party for their employees and thinking about that perfect gift! There is no such thing as a Christmas Party Fringe Benefits Tax (FBT) category and depending on circumstances of the party...
CHANGES TO CLAIMING WORKING FROM HOME EXPENSES – effective from 1 July 2022
A revision to claiming working from home related expenses is currently being drafted by the ATO to come into effect from the 2022-23 income year onwards. From 1 July 2022 the shortcut method is no longer available (brought in as a COVID-19 working from home measure)....Home Office Claim changes
The way to claim home office has changed from 1st July 2022 From 1st July 2022, the “Shortcut Method” is not longer an eligible method to claim your home office expenses. How to record and make Home office claims from 1st July 2022 Fixed Rate Method You can claim a...
Changes to Queensland Land Tax
Changes for Queensland land tax will commence from 30 June 2023 and will differ if you only hold land in Queensland or if you hold land in Queensland and other Australian states. ONLY QUEENSLAND LANDHOLDINGS There will be no changes if you only hold land in...
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