Instant asset write-off threshold set to increase to $25k

Prime Minister, Scott Morrison has pledged to increase the small business instant asset write off to $25,000 (up from $20,000). The write-off will be available for small business with an annual turnover of less than $10 million and will apply until 30 June 2020. The government will be seeking to legislate the change when Parliament…
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Rate for home office expenses increased

The home office running expenses hourly rate has been increased to 52c per hour, up from 45c per hour, effective from 1 July 2018. The rate per hour method for home office expenses includes all the items that a tax payer can claim as a home office running expense, such as lighting, heating, cooling, cleaning…
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