Budget 2020: Asset write-off, loss carry-back provisions and R&D changes pass parliament
Legislation for the new asset write-off scheme, as well as personal income tax cuts, passed through parliament without amendments on Friday.
R&D Tax Incentive backtrack welcomed, but software uncertainty remains
The rollback of proposed R&D Tax Incentive changes was a win for most. But, did the government go far enough?
Explained: How SMEs can access the new ‘limitless’ asset write-off scheme
The government has unveiled a massive new asset write-off scheme, but how will it work in practice?
Budget 2020: Loss carry-back scheme will allow businesses to reclaim last year’s taxes
The government has confirmed a loss carry-back scheme that will allow businesses to claim back taxes paid on last year’s profits.
Budget 2020: Building a granny flat? There’s a capital gains tax exemption for that
A capital gains tax exemption on granny flats will provide accommodation for elderly and disabled Australians.
Budget 2020: Kate Carnell welcomes potential ‘loss carry-back’ provision to boost small business cashflow
Treasury is considering a scheme allowing SMEs to claw back tax paid on last year’s profits, to be announced in tomorrow night’s budget.
Budget 2020 assumes access to a COVID-19 vaccine by next year, Frydenberg says
Any measures announced in this week’s budget are made on the assumption Aussies will have access to a COVID-19 vaccine by next year.
The government wants to bring forward income tax cuts, but will that actually stimulate the economy?
With the government eying off an early start to tax cuts, it has to be asked: will they actually do anything to bring the economy out of the gutter?
Budget 2020: Fringe benefits tax exemptions and red tape cuts on the way
The federal government will use next week’s budget to introduce a raft of tax concessions, including fringe benefits tax exemptions.
ATO extends ‘shortcut’ method for claiming work from home tax deductions
The Australian Taxation Office has extended its shortcut method for claiming working-from-home expenses to December 31, 2020.
R&D Tax Incentive changes: Did Morrison just hint at a backtrack?
As we draw closer to budget time, Scott Morrison has given the slightest of nods towards a potential backtrack on R&D Tax Incentive changes.
JobKeeper 2.0: Key dates businesses and sole traders need to know
JobKeeper will enter its second phase next Monday, and the ATO has revealed key dates and new information about alternative eligibility tests.
