Budget Changes – Full expensing of assets

Please note that this webinar has been pushed back by one week to the following Friday 30 October to accommodate Victoria's one-off 'Thank You Day' public holiday this Friday 23 October. 

The Federal Budget introduced one of the most significant tax incentives that Australia has ever seen. Certain businesses will be able to write off 100% of the cost of ‘eligible depreciating assets’ for a limited time period.

Due to this change, and former changes, the issue of how much a business can write off in respect of a particular asset has become a complex issue. A range of different factors determine at what rate, and by when, a business can depreciate an asset.

These changes have now been passed by Federal Parliament.

In this one-hour webinar, John Jeffreys, Tax & Super Australia’s Tax Counsel will clearly explain:
• The ability to claim depreciation for small, medium and large businesses.
• The critical dates that apply in relation to small, medium and large businesses.
• The position with second-hand assets.
• Which assets are excluded from the various concessions in relation to the writing-off of assets.
• What can be claimed in relation to the balance of the general small business pool.
• What happens with balancing adjustments.
• Implications for ‘second element’ expenditure on fixed assets.

Participants will be provided with the full slide pack as well as extensive notes, containing examples and diagrams to ensure that you fully understand the changes.

This webinar is the first of three in a series on changes arising from the Federal Budget, and can be purchased as a bundle at a discounted price. The next two webinars will cover ‘Loss carry-back and increase in the small business turnover threshold’ (Friday 6 November) and the ‘R & D concession’ (Friday 13 November).

Presented by TSA Tax Counsel John Jeffreys 

John regularly advises our members in how to work with Australia’s tax and super laws. With over 35 years’ experience – including as a business owner and tax partner in two large firms – John is also a seasoned public speaker and commentator on tax topics, prepares submissions on tax issues, and discusses tax matters at senior levels of the ATO and Treasury.
30/10/2020 12:30 PM - 30/10/2020 1:30 PM
Online, Australia

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