Don’t forget the instant asset write-off!

Written by Felicity Magnussen
A reminder for small businesses with a turnover of less than $50m – don’t forget the higher instant asset write-off threshold of $30K (that’s per item!) now applies to business assets purchased and first used between 2 April 2019 and 30 June 2020. To get a deduction this tax year, the item(s) must be installed ready for use before 30/6/19 – if you’re not sure or need help with your tax planning BEFORE the end of the financial year, please ask your friendly Halletts team member!

Government Contracts Now Require ‘Satisfactory Tax Record’

Written by Felicity Magnussen

From 1 July, businesses seeking to tender for government contracts of $4m+ will have to prove a ‘satisfactory tax record’ each 12 months.

Yet another reason to stay on top of your game, and now is the perfect time to start analysing and planning for your 2019 tax year!

We love helping our clients plan on both a business and personal level no matter how simple or complex your situation, so let us know if we can be of assistance.

Reminder: Tax Balance Due 21 March

Written by Felicity Magnussen

This is a courtesy reminder for those of you who (perhaps, unfortunately) have a due date for payment of the balance of your 2018 tax on or before 21 March (next Thursday).

If you have already come to terms with the pain and made the necessary payment, happy days!

If you need a reminder of your payment details or for us to negotiate with the ATO for an extension of time or payment arrangement, please let us know beforehand and we would be delighted to assist.