$30,000 instant asset write-off

chair and desk

Are you thinking of purchasing assets for your business? In a recent move, the government has increased the instant asset write-off from $25,000 to $30,000 for businesses with a turnover of less than $50 million. This means if you purchase an asset (new or second hand) costing less than $30,000 and it is used or […]

Single Touch Payroll

Phone and laptop

On February 12, the government passed legislation that requires even the smallest of employers to electronically file each pay run with the ATO using Single Touch Payroll (STP), starting from 1 July this year. What you need to know If you’re reporting through STP you no longer need to: Provide payment summaries to your employees […]

Work out what business expenses you can claim

Business Expenses

Did you know that the Australian Tax Office (ATO) is set to focus on small business tax returns this year, in order to crack down on the misreporting of income and expenses? Make sure you know exactly what type of business expenses you can claim by following these three golden rules. The expense must have […]