SMALL BUSINESS TAX BREAKS 2015

SMALL BUSINESS TAX BREAKS 2015 To help understand the ramification of what this $20,000 small business tax breaks means, i have outlined a concise summary of key criterias: Small business is defined as businesses with an aggregated turnover of less than $2,000,000 ($2 million). The asset purchased MUST cost less than $20,000, meaning you can […]

GST For Lawyers

Agency relationship and disbursements One common area where GST for lawyers is not widely understood is in the area of legal disbursements. Hopefully this blog will summarize some of the key practical points for legal professionals and clarify GST for lawyers. Below is an extract from GSTR 2000/37 where it relates to agency relationship applied […]

TAX NEWS

TAX AT A GLANCE!   Depreciating assets that are first used or installed ready for use prior to 1 January 2014 will be subject to the $6,500 threshold. Up to $6,500 can be claimed as a tax deduction instantly. After the 1 January 2014, the $1,000 threshold will apply to a depreciating asset. A $5,000 […]