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As a follow up to our FBT 2020 post, this post goes into more detail around meal entertainment and how in-depth fringe benefits tax requires businesses, and agents to go in determining how fringe benefits tax may apply.
Each industry has its own items that may be deductible for income tax purposes. Have a look at the various cheat sheets that may be useful in preparing your personal income tax returns.
The Queensland Government is extending the Small Business COVID-19 Adaption Grant Program. As part of Stage 2 of Queensland's Economic Recovery Strategy - Unite and Recover for Queensland Jobs, up to $100 million is being made available to deliver a second round of grants, with half of this funding specifically earmarked for regional small businesses located outside of South East Queensland. Round 2 will open on 1 July 2020.
The $150,000 instant asset write-off has been extended to 31 December 2020
We have a new office address - sure, it's a virtual one - but it makes it a lot easier for us to manage various things
We know what it's like to be small business owners. We understand your stresses. We are in this together. Let us help you get through and thrive.
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Have a cuppa while you read it. :]
