A short guide on when tax applies to business gifts and staff events
It's important to understand that just because something is a gift, or provided as a reward or donation, doesn't necessarily mean it is safe from tax. Below we provide a short guide on when tax applies to various business gifts and staff events. read more
Understanding director identification numbers and when you need one
We answer some common questions around the introduction of DIN’s: What are the key requirements under this legislation? Do I need to obtain a DIN? When do I need it by? How do I apply for a DIN? What if I don't register? read more
What working from home expenses can you claim?
What working from home expenses you can claim is determined by both the type of working from home setup you have and also by the method you are using to make the claim. Currently there is also a ‘shortcut’ method available that makes it simpler to claim working from home expenses during the coronavirus pandemic. read more
Instant asset write-off provisions now unlimited for businesses with an aggregated turnover of under $5 billion
The instant asset write-off provisions are now available until 30 June 2022. Also, for the first time, businesses with aggregated turnover of $500 million or above, but under $5 billion, are eligible to benefit. Below we comment on six things to be aware of when considering the instant asset write-off provisions. read more
Opportunities and risks for businesses in 2021
Here are some of the opportunities and risks we see for businesses in 2021: Incentives to create jobs, the JobTrainer Fund, Homebuilder Grant, Instant Asset Write Off, COVID-19 lockdowns, rules and regulations, Trade relations with China and the closure of businesses being propped up by JobKeeper. read more
Proposed cash payments limit legislation abandoned
A cash payments limit was first mentioned in the 2018-19 Federal Budget as a way to tackle the black economy, which has been estimated at being worth up to $50 billion a year. Following this, the Government moved to introduce a $10,000 cash payments limit through the Currency (Restrictions on the Use of Cash) Bill 2019. This bill was abandoned on 3 December 2020. read more

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