From 1 July 2015, small businesses are entitled to certain deductions when starting up a small business. The range of deductible start-up costs includes professional, legal and accounting advice and government fees and charges.
Read MoreFrom 12 May 2015, primary producers can immediately deduct the costs of:
- fencing, previously deducted over a period up to 30 years
- water facilities, previously deducted over three years.
This concession allows you to estimate the value of your trading stock at the end of the financial year to report in your tax return. You will need to record how you estimated the value of your stock, but you don't need to notify us that you have chosen to use an estimate.
Read MoreSmall businesses can immediately deduct the business portion of most assets if they cost less than $20,000 and were purchased between 7:30pm 12 May 2015 and 30 June 2017.
Read MoreSmall businesses have access to a range of tax concessions. This applies to sole traders, partnerships, companies or trusts.
Read MoreFraud can have a devastating impact on any business.
Read MoreThe following table outlines the GST concessions available to charities (with registered tax concessions), deductible gift recipients and government schools:
Read MoreThe accounting treatment of government funding is largely dependent on the conditions stipulated by each funding provider. A common example is the requirement to acquit all funding in full at the end of each year, with any unspent amounts to be repaid or withheld from the next year’s allocation.
Read MoreThe ACNC has announced its intention to revoke the registrations of approximately 200 more charities who have now defaulted on the lodgement of their 2013 and 2014 Annual information Statements (AIS).
Read MoreWhether you're on a beach, in a desert, atop a mountain, at a restaurant, overseas, under a tree, or by a river there’s always time to work on your budgets.
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