Entries by Joanne Humphreys

Disposing of a Motor Vehicle

In this blog we will consider the tax implications involved in disposing of a motor vehicle both privately and within a business. Disposal does not only include the sale of a motor vehicle, but also trading in the vehicle or that vehicle being written off as part of an insurance claim. Generally, if a motor […]

Quick Guide to the Training and Technology Boosts

Training and technology are often at the heart of a business’s success and may give them an edge to help them thrive in a competitive market. The Australian Government has recognised the importance of both of these concepts through the introduction of two initiatives to support small business, the Skills and Training Boost and the […]

Capital Gains Tax Implications of Granny Flat Arrangements

Granny Flats have long been an option for aging parents, older children or those who require assistance with day-to-day activities due to a disability. However, when in the planning stages, it is important to understand the Capital Gains Tax (CGT) implications of such an arrangement. Granny flat arrangements give an eligible person the right to […]

How will the instant asset write-off affect future years?

Many businesses breathed a collective sigh of relief when the Instant Asset Write Off (IAWO) Scheme was first introduced, due to changing market conditions at the height of the COVID-19 pandemic. The scheme, which has now been extended to 30 June 2023, allows eligible entities to claim an immediate deduction for many depreciable assets, rather […]