News & Views

Extension of the Instant Asset Write Off and how it applies to motor vehicles

The Government has announced that it will extend the instant asset write off (IAWO) to 31 December 2020 for asset purchases below $150,000. Businesses with an aggregated turnover of less than $500 million are currently eligible for the write off and it is intended that this announcement will be legislated soon.

NT's Jobs Rescue and Recovery Plan - Business Hardship Package

The Jobs Rescue and Recovery plan's Business Hardship Package is the latest initiative to help Northern Territory (NT) businesses that have experienced significant hardship as a result of the coronavirus (COVID-19) pandemic.

Support is available to Territory businesses with a turnover less than $50 million who can demonstrate a reduction of turnover of 30% or more due to coronavirus (COVID-19).

Working from home? Tax deductions explained

Employees working from home due to COVID-19?
With an increased number of employees working from home in the face of the coronavirus pandemic, home office expense claims are expected to rise significantly for the 2020 tax year. If employees are required to work from home, they may be able to claim a tax deduction for expenses they necessarily incur related to performing their work duties.

COVID-19 and local business

Now more than even it’s important we show and demonstrate our support for local businesses and seriously consider the importance of ‘Australian made’ and changing the conscious choices we have made that have impacted our economy by rebuilding our manufacturing capability.
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