Posts Tagged "Small Business"
-
Parliament Passes Permanent $20,000 Instant Asset Write-Off and Reintroduces Loss Carry Back Measures
Posted on September 4th, 2026 by Naomi NormanIn a welcome development for Australian businesses, Parliament has passed the Treasury Laws Amendment (Tax Reform No. 2) Bill 2026, delivering two significant tax measures announced in the 2026-27 Federal Budget:
The $20,000 instant asset write-off has been made permanent for eligible small businesses.
The tax loss carry back regime has been reintroduced for eligible companies.These changes provide greater certainty for business investment decisions and may improve cash flow for businesses experiencing fluctuating profitability.
Permanent $20,000 Instant Asset Write-… -
Renting out your shack or holiday home and also using it privately? your tax deductions may be at risk
Posted on December 23rd, 2025 by Paul LyonsThis is the time of the year when many Australian’s head off to their holiday home or shack to spend time with their friends and family. Given the steep rise in property prices, it is common for owners to rent out their holiday homes to help subsidise the significant holding costs of retaining them.
What might surprise you is the Australian Taxation Office (ATO) has issued a new draft ruling that would significantly reshape how holiday homeowners can claim tax deductions. The changes, outlined in Draft Taxation Ruling TR 2025/D1, aim to curb over-claimed e… -
The $20K Immediate Asset Write-Off – What Small Businesses Need to Know for 2025–26 Financial
Posted on December 19th, 2025 by Paul LyonsOver the past few years, one of the most confusing aspects for small business entities (and there are many!) is what the applicable limit for the immediate tax write-off for depreciable assets is?
The rules have changed more than Tassie’s Spring weather and eligibility has been dependent on both turnover and asset value. Asset value’s have ranged from $1,000 to $30,000, up to unlimited (Covid years), then down to $20,000 over the past few years. What is it now?
Well, it had dropped to only $1,000 for this 25/26 financial year, before the Australi…