What to expect post-election

Budget 2019-20: The pre-election announcements that are now law The Federal Budget announced a series of measures, some of which were legislated before the election was called. There are no guarantees, however, that any policies or announcements not already legislated will come to fruition – that will depend on the Senate composition determining what policies…

Business Budget 2019-20

Business Instant asset write-off increased to $30k and expanded to businesses under $50m Date of effect 7:30pm (AEDT) on 2 April 2019 to 30 June 2020   The threshold for the popular $20,000 instant asset write-off will increase to $30,000* from Budget night until 30 June 2020 when it will potentially return to its original…

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Tax rate reduction

Accelerated tax rate reduction for small business Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses. Parliament recently passed legislation to accelerate the corporate tax rate reduction for corporate tax entities that are…