Although a very welcome announcement from the last federal budget, the $20,000 immediate asset write-off sparked a lot of questions about its implementation and eligibility requirements. We answer all your pressing inquiries.
Also covered are tax deductions that are generally not allowed, claims you may be able to make if you’re lucky enough to own a holiday house, and a guide to taking out insurance through your SMSF.
We also look at the essentials of succession planning, and profile the new role proposed for the small business sector, the Australian Small Business and Family Enterprise Ombudsman
Please contact MBS for clarification, or further advice, regarding any of the topics covered in this newsletter.
Disclaimer & Copyright: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information. The Copyright is owned exclusively by Taxpayers Australia Inc (ABN 96 075 950 284)