TREASURY LAWS AMENDMENT (2020 MEASURES NO 3) BILL 2020 Treasury Laws Amendment (2020 Measures No 3) Bill 2020 has passed both Houses of Parliament and is now law. EXTENDING THE INSTANT ASSET WRITE-OFF This legislation amends the income tax law to allow a business with an aggregated turnover for the income year of less than…Read More

  In an effort for Australia to withstand the economic impact of the Coronavirus, The Australian Federal Government has introduced a stimulus package which will benefit Australian businesses. The stimulus package for businesses is made up of two main components. These two components are Delivering support for business investment and Cash flow assistance for businesses.…Read More

$30,000 instant asset write-off The ATO is reminding businesses that are looking to expand or improve their business and thinking of buying new or second hand assets, that medium sized businesses with a turnover up to $50 million (but at least $10 million) are eligible for the instant asset write-off.Read More