Question The business partners are considering handing out cash bonuses to all their staff. They would prefer not to go through wages, so employees are not taxed. It is a one-off cash bonus, some employees $1,000, others $5,000. They are happy to register for fringe benefits tax if required. Is this the best way to go? Answer If you want

Question Could you please explain what this means? This is from bO2 newsletter issue #108. There is temporary full expensing for the purchase of capital assets between 6.10.2020 and 30.6.2022. If your business has a genuine need for new equipment, you could directly benefit from this. Business with aggregated annual turnover below the relevant threshold will be able to deduct the full cost eligible

Question I have received a booklet titled “Budget 2020” from the Liberal Party of Australia recently, and I would like confirmation on an item stating  Asset Write Off: “Over 99% of businesses will be able to write off the full value of any eligible asset they purchase for their business. This will be available for small, medium and larger businesses