The July Issue answers all your pressing inquiries on the $20,000 immediate asset write-off, a very welcome announcement from the last federal budget that has sparked a lot of questions about its implementation and eligibility requirements.
Also covered are tax deductions that are generally not allowed, claims you may be able to make if you’re lucky enough to own a holiday house, and a guide to taking out insurance through your SMSF.
We also look at the essentials of succession planning, and profile the new role proposed for the small business sector, the Australian Small Business and Family Enterprise Ombudsman.
*Remember to book your appointment to have your tax return prepared and reference our Checklists on our home page to assist us in gathering information for your tax returns.