TaxWise What’s Been Happening in the Parliament? Instant Asset Write-Off – Small Business Small businesses that use the simplified depreciation rules can immediately write off the full cost of a depreciating asset used in the business, provided the cost is below the relevant threshold. This measure is known as the instant asset write-off (IAWO). The… Continue reading Business News – February 2025
Author: Siyani Siyambalagamuwa
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Business News – February 2025
TaxWise What’s Been Happening in the Parliament? Instant Asset Write-Off – Small Business Small businesses that use the simplified depreciation rules can immediately write off the full cost of a depreciating asset used in the business, provided the cost is below the relevant threshold. This measure is known as the instant asset write-off (IAWO). The… Continue reading Business News – February 2025
Year End Planning Tips for Australian Taxpayers – A Comprehensive Guide
As the financial year draws to a close, it’s the perfect time to take control of your finances. Year-end planning goes beyond tax preparation—it’s about ensuring your overall financial well-being. Whether you’re an individual or a business owner, taking proactive steps now can set you up for success in the coming year. Why Year-End Planning… Continue reading Year End Planning Tips for Australian Taxpayers – A Comprehensive Guide
Business News – November 2024
TaxWise What’s New? Depreciation for Small Businesses The Bill proposing to extend the $20,000 threshold for the small business instant asset write-off (IAWO) until 30 June 2025 is currently before the Senate. To be eligible for the IAWO, the business must have an aggregated annual turnover of less than $10 million, the asset must cost… Continue reading Business News – November 2024
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