May 2024 Tax Newsletter

May 2024 Tax Newsletter

Discover essential tax-saving strategies in our latest update! Learn how to leverage FBT exemptions for work vehicles, take advantage of the increased $30,000 instant asset write-off before it’s too late, and safeguard your business with vital lessons from a real ATO audit case. Ensure you’re maximizing benefits and steering clear of costly mistakes with our expert insights.

Check out our May 2024 Tax Newsletter by clicking on the link below. The 3 articles cover:

  • Maximize Your FBT Benefits with Eligible Work Vehicles

Uncover how to use work vehicles without incurring Fringe Benefits Tax. Our guide explains the ATO’s conditions for exemption, helping you to optimize your tax savings legally and efficiently.

  • Instant Asset Write-Off Increase Alert: Act Now!

Attention, business owners! The instant asset write-off threshold has been raised to $30,000. Find out how to utilize this increase to your advantage before the June 30 deadline.

  • Avoid Costly Tax Mistakes: Lessons from a Real ATO Audit

Learn from the missteps of others. A recent tax tribunal case reveals the severe consequences of inadequate bookkeeping and highlights the importance of detailed records and agreements to avoid hefty penalties.

 

 

UP2Date-May2024

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