Asset write-off
Instant Asset Write-Off Extended Initially absent from the 2025-26 Federal Budget, the $20,000 Instant Asset Write-Off has now been officially extended for another 12 months – through to 30 June 2025. This backflip from the Government came after mounting pressure from independents and other parties, who are also pushing to increase the threshold or make …
Instant Asset Write-Off If you’re running a small business in Australia, you’ve probably heard the term “instant asset write-off” tossed around-especially come tax time, and more recently in the news. But what is it? And how can it benefit your business? What is the Instant Asset Write-Off? The instant asset write-off (IAWO) is a handy tax rule …
Division 293 Tax Division 293 tax is an additional tax on concessional superannuation contributions for high-income earners in Australia. It is applied at a rate of 15% on certain super contributions when an individual’s combined income and concessional contributions exceed $250,000 in a financial year. This tax effectively reduces the tax concession available to higher-income …