Training your staff? You could get a 20% bonus deduction.

Training your staff? You could get a 20% bonus deduction.

Small businesses (those with aggregated turnover of less than $50m) will get a bonus tax deduction on top of the allowable deduction for training their employees, either in-person in Australia, or online. The Skills and Training Boost has been reignited, bringing a...
Small business instant asset write-off to be reintroduced

Small business instant asset write-off to be reintroduced

As part of the 2023–24 Federal Budget, the instant asset write-off has been reintroduced by the federal government. With the temporary full expensing (TFE) incentive, which is available to small and medium businesses with a turnover less than $5 billion, due to expire...
2023 Federal Budget Highlights

2023 Federal Budget Highlights

The Federal Treasurer Jim Chalmers handed down the 2023 Federal Budget on 9 May 2023. The following is a list of highlights from a tax and superannuation perspective. Businesses Small businesses with aggregated turnover of less than $10 million will be allowed an...