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The Garis Group shares information on the $150k instant asset write-off which has now been extended for 6 months

COVID-19 | $150k instant asset write-off extended for 6 months

Emma Zajac
Small Business
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The $150,000 instant asset write-off has now been extended until the end of the year as the government looks to spur businesses to invest. The instant asset write-off threshold of $150,000 for businesses with an aggregated turnover of less than $500 million will now be extended to 31 December 2020. The extension, estimated to cost $300 million…
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HomeBuidler: What is it and How do you access it?

HomeBuilder: What is it and how do you access it?

Emma Zajac
Small Business
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The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home. The grants…
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Imminent Workplace & ATO Targets for 2021

Imminent Workplace & ATO Targets for 2021

Emma Zajac
Small Business
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What’s changing on 1 July? Company tax rate reduces to 26% for base rate entities $150k instant asset write-off scheduled to reduce back to $1,000 for small business entities and will no longer be available for entities with aggregated annual turnover of $10m or more, although accelerated depreciation rules apply to certain entities until 30…
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In the lead-up to 30 June 2020, we want you to be aware of opportunities to save tax with super contributions.

2020 Tax Planning | Opportunities with Superannuation for 2020

Emma Zajac
General
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When you retire, your superannuation is likely to become an important source of your income. That’s why it’s a good idea to top it up while you are working. But did you know, there are also some excellent tax benefits you can take advantage of right now – just by making your own voluntary superannuation…
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2020 Tax Planning

2020 Tax Planning | Reduce your 2020 Tax!

Emma Zajac
General
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With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2020 to reduce your tax and grow your wealth!   For 2020, key priorities are likely to include: Maximising superannuation contributions without exceeding the relevant caps Bringing forward deductible expenses Deferring taxable income Managing…
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