by epoch | May 1, 2019 | eNews
In the 2017-18 financial year, more than 2.2 million Australians claimed over $47 billon in deductions and the Australian Taxation Office (ATO) thinks that is too much – one in ten is estimated to contain errors. 4,500 audits of rental property deductions will...
by epoch | May 1, 2019 | eNews
Tax on investment property In general, taxpayers are able to deduct from their assessible income any expenses they incur generating or producing that income. An investment is negatively geared when the cost of owning the asset is more than the return. Negative...
by epoch | May 1, 2019 | eNews
The Federal Budget announced a series of measures, some of which were legislated before the election was called. Extension and increase to the instant asset write-off The popular instant asset write-off for small business has been extended and increased. The new laws:...
by epoch | Apr 3, 2019 | eNews
Superannuation ‘work test’ watered down & age limit for spouse contributions increased Date of effect 1 July 2020 As previously announced, from 1 July 2020, Australians aged 65 and 66 will be able to make voluntary superannuation contributions (concessional and...
by epoch | Apr 3, 2019 | eNews
Instant asset write-off increased to $30k and expanded to businesses under $50m Date of effect 7:30pm (AEDT) on 2 April 2019 to 30 June 2020 The threshold for the popular $20,000 instant asset write-off will increase to $30,000* from Budget night until 30 June 2020...
