Tag: Instant Asset Write-Off

The Government’s announcement to increase and extend the instant asset write-off is expected to stimulate small business growth and investment. According to business accounting software company, MYOB, 28 per cent of small businesses find cashflow a real pressure. “Steps like these will provide a welcome leg-up to businesses looking to achieve growth this year,” said […]

In this article, we look at the key take-aways from this year’s Federal Budget for Australia’s small businesses and startups. In addition, readers will discover how dozens of thought leaders responded to this week’s “Let’s Talk…” question, which asked them to weigh-in on the budget – was it a win for businesses, a missed opportunity… […]

An increasing number of small business owners will complete their tax returns themselves this year, according to research undertaken by cloud accounting provider MYOB. The company’s June SME Snapshot revealed that 41% of owners plan to complete their own returns, up from 41% last year.  John Moss, MYOB’s chief strategy officer told Dynamic Business that […]

The Australian Small Business and Family Enterprise Ombudsman has encouraged small business operators to take advantage of the Government’s instant asset write-off extension. More businesses are now eligible to buy equipment (new or second hand) up to $20,000 and write it off immediately after legislation passed the Senate. Multiple claims can be made under the […]

Businesses with an annual turnover of up to $10 million will benefit from the $20,000 instant asset tax write-off scheme for a further 12 months, the Government announced in the Federal Budget. The extension has generally been welcomed, although there have been calls to make the measure permanent and increase the write-off threshold to benefit more businesses.  […]

Clive Palmer has caused a headache for the government on carbon, but his positioning on the mining tax repeal has heightened uncertainty over a key small business tax break.

It’s that time of year again when small business owners are preparing their tax returns and going over their paperwork with a fine tooth comb. To help you with your EOFY preparations, Dynamic Business, spoke with Tax Counsel at the Tax Institute, Stephanie Caredes and Senior Tax Adviser at the Institute of Public Accountants, Tony […]

Many small businesses are missing out on a key tax perk, with many unaware of the Federal Government’s $6500 instant asset write-off.