Non-Assessable Non-Exempt (NANE) Income

February 7, 2024
Non-Assessable Non-Exempt (NANE) Income | ATO | Accountant | Bayswater

Understanding Non-Assessable Non-Exempt (NANE) Income Through Disaster Grants The recent spate of extreme weather events during the summer in various parts of Australia has presented unprecedented challenges for small businesses. As a result, the pressing concerns they face may not necessarily revolve around their tax obligations. However, amidst these trying times, it is crucial for …

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$20,000 Asset Write-Off

February 1, 2024

$20,000 Asset Write-Off Small businesses with an annual turnover of less than $2 million can claim an immediate deduction for assets they start to use or have installed ready for use, provided each depreciable asset costs less than $20,000. Assets which cost $20,000 or more, and cannot be immediately deducted under other provisions, are deducted …

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