The Senate Economics Legislation Committee has recommended extending the $20,000 instant asset write-off until June 2025, offering continued financial support for small businesses. Additionally, there are discussions about increasing this limit to $30,000 and making it permanent, which could simplify tax planning and encourage more investment.
New regulations are set to bring Buy Now, Pay Later (BNPL) services under the Credit Act, requiring providers to perform basic credit checks and hold a credit licence. The changes aim to enhance consumer protection and prevent irresponsible lending, while maintaining the innovation and competition that BNPL services offer.
Juggling household tasks and social commitments can make life admin like tracking receipts and bank statements fall to the bottom of your to-do list. Fortunately, the golden age of apps offers game-changing solutions to streamline your document management with just a few taps.
It is generally understood that a capital gain or loss an individual makes from a Capital Gains Tax (CGT) event is disregarded if the dwelling was the individual’s main residence. What’s not so well understood is that the main residence exemption extends to garages, storerooms and other structures.
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