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Small businesses can immediately deduct assets costing less than $20,000 purchased since 7.30pm 12 May 2015. The deduction is claimed in the income year in which the asset is first used or installed ready for use. What’s changed? The instant asset write-off...
The application of GST in the context of property transactions is not always straight forward. Good professional advice should always be sought before proceeding with any transaction. Make very sure you don’t sign anything without reading and understanding it first....
When a capital asset such as a residential property is disposed or transferred, capital gains tax (CGT) event is triggered and CGT calculation may be required. It is essential to seek professional advice before such an event is triggered and maximum savings could be...
