Small businesses expanded tax concessions
What’s new for Australian business? The ATO has recently reminded small businesses of the expanded tax concessions potentially available to them, as outlined below: The pending increase in the small business instant depreciating asset write-off to less than $25,000 (as discussed in further detail above). Accelerated depreciation deductions for primary producers for eligible fodder storage […]
Fodder storage assets
More help for drought-affected farmers As part of the next phase of its drought assistance policy (which includes various other measures), the Government announced that farmers will be able to immediately deduct the cost of fodder storage assets. Previously, these types of assets (such as silos and hay sheds used to store grain and other […]