New Measures to Reduce your Tax Bill

Aug 19, 2022 | Small Business Finance

New Measures to Reduce your Tax Bill.

Most people’s idea of tax planning is what Sam Ayoubi, director tax services at KPMG, calls symptom relief, problem solving or putting out fires. But as we move into a new financial year, it’s vital to ensure you are making the most of some new incentives now available.

One of these is temporary full expensing. Announced by the government in its October 2020 budget, this allows businesses with a turnover of less than $5 billion to immediately deduct the business portion of the cost of eligible new depreciating assets.

For more on how to reduce your tax bill click here. New measures to reduce your tax bill.

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