Property Depreciation Schedules - The New reality

The ATO went Too Far and are in the Firing Line!

Many, many moons ago all Quantity Surveyors interpreted the Tax Act differently when preparing depreciation reports. For example, some of us would say that kitchens were part of the building and others considered them to be Plant & Equipment (P&E). Generally speaking it’s better to have an item considered P&E because you can claim it […]

New Tax Deductions for Small Businesses

Joe Hockey delivers early Christmas present via tax deductions for small businesses. Small businesses with a turnover of less than $2m can now claim an immediate tax deduction when purchasing plant and equipment valued under $20,000. This new tax break will deliver an early Xmas present to fit-out contractors who specialise in restaurant and small […]