2016-17 Federal Budget: small tax cut to address bracket creep, major tax help for SMEs, phased company tax cut, major super tax changes, MNEs targeted, 10-year tax plan, tobacco tax up On Tuesday, 3 May 2016, Treasurer Scott Morrison handed down the 2016-17 Federal Budget, his 1st Budget. In […]
Read more →What constitutes a ‘small business’? Broadly, the immediate write-off is available to businesses which have an “aggregated turnover” of less than $2 million. This definition can be quite complex in certain situations. Is the $20,000 threshold inclusive or exclusive of GST? According to how the current law […]
Read more →The temporary immediate asset write off measure is intended to apply from 7.30pm on May 12 (ie. budget night) until June 30, 2017. How does the deduction work? First of all, it should be noted that the measure is not a cash handout of $20,000 nor is […]
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