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Bonus deduction available for technology investment
Bonus deduction available for technology investment A bonus deduction is available for small and medium businesses that commence digital adoptions. The bonus deduction will be 20% of the cost incurred for business expenses or depreciable assets that support a digital...
ATO occupation and industry guides to help you to work out the expenses you can claim.
ATO publishes occupation and industry guides to help you to work out the income and allowances to declare and the expenses you can claim. https://www.ato.gov.au/individuals/income-and-deductions/occupation-and-industry-specific-guides/ Rules for claiming a work...
Most commost common examples of tip-offs to the ATO
Weekend “cashies” are a risk: most common examples of tip-offs to the ATO Demanding cash from customers, paying workers “cash in hand”, or not declaring all sales are the most common examples of the 43,000 tip-offs received by the ATO in the 2021–22 financial year....
COVID-19 (NSW): business support package
COVID-19 (NSW): business support package released The NSW government has announced a financial support package of more than $1 billion for businesses, workers and the performing arts hardest hit by the Omicron wave. The package includes financial support for small...
Work-related COVID-19 tests tax deductible
Work-related COVID-19 tests tax deductible The government has clarified that work-related COVID-19 test expenses are tax deductible and exempt from fringe benefits tax. Legislation will be introduced to make clear that COVID-19 test costs (including for Polymerase...
Temporary full expensing available until 30 June 2023
Temporary full expensing available until 30 June 2023 New legislation from the government has extended the temporary full expensing rules to 30 June 2023. This legislation was originally announced in the 2021 Federal Budget. This letter is to provide you with a...
2021 COVID-19 business grant
2021 COVID-19 business grant Announced on 13 July 2021 – Applications commenced 19 July 2021 and close on 13 September 2021 Announced as part of the 2021 COVID-19 support package, the support grant is intended to help certain businesses by alleviating cashflow...
Information on the COVID-19 Disaster Payment
Client impact statement: COVID-19 Disaster Payment increased for extended lockdown On 3 June 2021, the Prime Minister announced that a COVID-19 Disaster Payment would be made available for eligible individuals. Further announcements across July 2021 outlined increased...
NSW Job Saver Grant
JobSaver grant for 2021 greater Sydney lockdown Announced on 13 July 2021 — Applications commenced 26 July 2021 and close 18 October 2021 An economic stimulus package is now available for businesses in NSW who are located in a Commonwealth Government declared hotspot....
SupeSuper Guarantee rate rising 1 Julyr Guarantee rate rising 1 July
On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. For salary and wage payments made on or after 1 July 2021, the minimum superannuation guarantee contribution rate of 10% will need to be applied.