Temporary full expensing enables your business to fully expense the cost of certain assets in the first year. Read on for immediate deductions extended!
Immediate Deductions Extended
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Taxation
ATO’s Attack on Trusts and Trust Distributions
The ATO released new guidance material that directly targets how trusts distribute income. For the ATO’s attack on trusts and trust distributions, read on!
PCR and RAT tests to be tax deductible, FBT free
The Treasurer has announced that PCR and rapid antigen tests will be tax deductible for and exempt from FBT for employers if purchased for work purposes.
Professional Services Firm Profits Guidance Finalised
The ATO’s finalised position on the allocation of profits from professional firms starts on 1 July 2022. Firms will need to assess their structures now.
The top Christmas tax questions
Every year, we are asked about the tax impact of various Christmas or holiday related gestures. Here are the top Christmas tax questions, answered!