Work-related car expenses The Budget confirmed that the 12% of original value and one-third of actual expenses incurred methods would be discontinued. That means only the cents per km and logbook methods remain. The Government will set 66 cents per kilometre as the rate for using the cents per km method, irrespective of a car’s…
SMALL BUSINESS Small business tax rate cut to 28.5%; tax discount for unincorporated small businesses Small business asset accelerated depreciation write-off up to $20,000 per year Two company tax rates – some implications to consider Immediate deductibility for professional expenses re start-ups CGT roll-over relief for change to entity structure No FBT on work-related electronic…