The ATO has advised that the car limit is $57,581 for the 2016/17 (up from $57,466 for the previous year). This amount provides a limit on depreciation and GST input tax credit claims.
Over the next few months most Australians will be visiting their Accountant to do their income tax return. When preparing returns, property depreciation is an area for which many people fail to include or calculate accurate deductions. Depreciation is the key to increasing cash flow on a residential property. Here are five tips from BMT […]
The SuperStream deadline of 30 June has now been extended. The ATO noted that, while many small businesses had implemented the required changes, “some small businesses may need extra time and help to become SuperStream compliant”. The ATO has announced that for small businesses that are not yet SuperStream ready, it will provide a further extension […]