by Team Garnet | Sep 25, 2025 | Business Structures, Investments, Small Business
Are you a small business owner planning to invest in new equipment or technology? The good news is that the government is planning to extend the $20,000 instant asset write-off by a further 12 months until 30 June 2026. This measure was announced by the Treasurer as...
by Team Garnet | Aug 18, 2023 | Business Structures, Small Business
Small businesses may soon be able to receive a bonus tax deduction as an incentive to electrify their operations if a government proposal becomes law. Small businesses with an aggregated annual turnover of less than $50m could soon get a bonus 20% deduction for the...
by Team Garnet | Aug 4, 2023 | Business Structures, Small Business
Small businesses may be able to get a bonus 20% deduction for any business expenses and depreciating assets used to improve their digital operations. Small businesses can access a 20% bonus deduction for eligible expenditures incurred on business expenses and...
by Team Garnet | Jul 8, 2023 | ATO, Small Business
With the advent of a financial year, temporary expensing is now no longer available, but small businesses still have access to the instant asset write-off. What is the instant asset write-off? Eligible businesses can claim an immediate deduction for the business...
by Team Garnet | May 8, 2023 | ATO, Business Structures, Small Business
ATO has warned content creators that they need to be aware of their income tax and GST obligations. If you start making money from your online content, you will have income to declare. You will also need to consider whether you are in business. If you are, or you want...
