by epoch | Aug 29, 2024 | eNews
Legislation increasing the instant asset write-off threshold from $1,000 to $20,000 for the 2024 income year passed Parliament just five days before the end of the financial year. Purchases of depreciable assets with a cost of less than $20,000 that a small business...
by epoch | Aug 29, 2024 | eNews
Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts took effect on 1 July 2024. At the same time, the...
by epoch | Aug 19, 2024 | eNews
Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, several issues need to be resolved. What happens when there is a family company? For couples that have assets tied up in a company, the tax consequences of any settlements paid from...
by epoch | Aug 19, 2024 | eNews
The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. The case of Rusanova and Commissioner of Taxation is enough for a telemovie. The plot features an...
by epoch | Aug 19, 2024 | eNews
ASIC’s annual insolvency data shows corporate business failure is up 39% compared to last financial year. The industries with the highest representation were construction, accommodation and food services at the top of the list. Restructuring appointments grew by...
