Building & Construction

Back to Basics: Capital or Revenue

If you are making plans in relation to a property venture then it is crucial to understand what the taxation implications are for your project. One of the keys to the taxation consequences will be whether the project is on revenue account or capital account. Capital Account If the property is purchased (or a [...]

Back to Basics: Capital or Revenue2020-06-25T14:07:22+10:00

Instant Asset Write-Off Extended to 31 December 2020

On 9 June, the government announced that the $150,000 instant asset write-off would be extended from a planned finished date of 30 June 2020 until 31 December 2020. Under these rules, eligible taxpayers get a 100% tax deduction for asset purchases with a value of less than $150,000.  To be eligible you must: be [...]

Instant Asset Write-Off Extended to 31 December 20202020-06-09T15:00:41+10:00