The small business community welcomed the government’s $20,000 instant asset write-off initiative from the last federal budget, but there is an added bonus hidden in the legislation that could open up the valuable deduction to a wider tax-paying cohort than just small business entities. We explain.
We also look at legal expenses that are allowable deductions, where interest on a loan taken out to pay a tax debt may be able to be claimed, and in a similar vein when refinancing a partnership can open up a deduction opportunity.
And if you are considering setting up your own self-managed superannuation fund, we run over the considerations you really need to pay attention to.
Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.
Click to Download De Luca Partners September 2016 Newsletter
Disclaimer: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information.