Finding the Positives

Written by Felicity Magnussen

In this time of financial, climate and health worries, it’s important to seek out the positives and accept all offers of help – Scomo’s no longer shaking hands.

He’s now splashing cash, announcing business cash grants of up to $25K, an increase in the instant asset write off threshold from $30K to $150K until 30 June 2020 and an up front 50% tax deduction on purchase price of new assets until 30 June 2021.

Subsidies for trainees/apprentices, cash for pensioners and even the ATO will be required to cut some slack in some regions.

Want to get in for your share of Sco-mo-ney? Please ask your friendly Halletts team member!

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The earlier the better!

Written by Felicity Magnussen

The Earlier the Better We Say

With the Christmas singing and Merry Wishes seeming like a long time ago, we are now busily working away.

Although the May 2020 due date may seem far into the future, we would love to receive your tax returns earlier rather than later to avoid any surprises (and provide your refunds quicker!)

wrist wearing apple watch showing the time

ATO now outsourcing to landlords

Written by Felicity Magnussen
From 1 July 2019, if a tradie working on your rental property doesn’t provide you with an ABN, you as the landlord will have to withhold 47% tax from their invoice and forward it to the ATO – if you don’t, you may not be able to claim that expense as a tax deduction for the property.

We’re all for eliminating the black economy, but it’s more red tape wrapped around a big stick for landlords….

A pile of binders filled with papers