Accountants play an important role in assisting business owners with navigating complex processes. One such aspect demanding careful attention pertains to claiming deductions for depreciating assets. Let’s delve into the strategic timing for claiming deductions, the various types of depreciating assets, and the significance of maintaining precise records to optimise tax benefits. Strategic timing
Key instant asset write-off changes The instant asset write-off incentive is a tax-saving initiative introduced by the Australian Government. It allows eligible businesses to deduct the full cost of certain assets in the year they are purchased, rather than claiming the cost over a number of years. Recently, the Government has announced that it will
