Businesses get increased access to losses
In the first quarter of this calendar year, legislation was passed that will supplement the ATO’s current “same business test” for losses with a more…
Deductions – Business and Capital Expenditure
Read MoreBusinesses get increased access to losses
Staff training costs deductible, but beware FBT
One of the recognised keys to business success is having knowledgeable, efficient and well-trained staff. But it is not always possible (or is indeed rare)…
The same business test to be replaced by a “similar business” test
Among the first batch of tax legislation the government dealt with in the new year was a bill that contained changes to the “same business”…
Removing tax deductibility of ‘non-compliant’ payments
From 1 July 2019, businesses will only be able to claim deductions for payments that are made to workers (employees or contractors) when the employer has…
Your claim for a business tax loss can be denied
Business owners are naturally keen to be able to absorb a business loss as a tax deduction, but it also pays to not stray too…
Interest deductibility after income-producing activity ceases
An issue that sometimes arises for business owners is whether interest expenses incurred on borrowed funds used in a business remain deductible after the business’s…