Small business entities Pre COVID-19 stimulus COVID-19 stimulus 2020-21 Budgets Instant asset write-off / temporary full expensing 7.30pm (AEDT) 2 April 2019 – 11 March 2020 12 March 2020 – 7.30pm (AEDT) 6 October 2020 7.30pm (AEDT)…
Individuals could be affected by: – Loss of franking credit refunds to their Self-Managed Super Funds and to themselves – Paying higher capital gains tax by reducing the general CGT discount from 50% to 25% – Losing tax benefits from…
February 2018 Tax Updates Small Business Advantages: The Australian Government is supporting small businesses through introducing the instant write-off for eligible assets costing less than $20,000 from 12 May 2015 to 30 June 2017, helping these businesses purchase assets and…
The R&D tax incentive will be reduced by 1.5%: from 45% to 43.5% for the R&D refundable tax offset; and from 40% to 38.5% for the R&D non-refundable tax offset.
As part of the government’s election policy, financial assistance will be provided to specific apprentices on a special needs list by providing interest-free loans referred to as Trade Support Loan (TSL). TSL will be a new income contingent loan and…