$20,000 instant asset write off extended to 30 June 2018 Assets purchased for business use can be immediately written off (if they cost less than $20,000 [per item]) up to 30 June 2018.  From 1 July 2018 the threshhold will reduce to $1,000. You are eligible to claim the immediate business expense deduction if: Your business turnover is less than $10 million; and The asset was first used or installed ready for use in the income year you are claiming it in. ...

Are you a small business or sole trader?  Do you know your rights and responsibilities? The Australian Competition & Consumer Commission (ACCC) on 11 January 2018 published a new guide for small businesses. If you engage in buying or selling goods or services you must comply with the Competition and Consumer Act 2010 (CCA). The guide is designed to help small businesses understand their key rights and responsibilities under the CCA and the Australian Consumer Law...

Why is it getting more difficult to get a home loan? It is becomming increasingly more difficult to obtain a home loan - why is this: The Federal Government is worried that the Australian property market is in a bubble, because home loan interest rates are low and credit is easy to obtain; The Government uses its banking regulatory body APRA to force banks to make it harder to get property loans in an attempt to cool the housing market. This article in The Australia...

Do you know what trauma insurance is? Recently we've been asking friends if they know what trauma insurance is.  The feedback is that they are really not sure what it covers you for. We all know someone who has been touched by cancer or a heart attack or MS - well if that person had trauma insurance then they could receive a lump sum payment.   This lump sum payment could be put towards: your medical expenses (not covered by private health or Medicare...

What do you know about bitcoin? Dean has a few tips to help you understand: Bitcoin is similar to a currency (cash) and is used to pay for goods and services, usually Internet purchases; The difference is bitcoin is not regulated by any government and therefore governments don't control the supply; There is massive speculation that bitcoin will replace cash for purchases (specifically on the Internet) and this is fuelling the price; Bitcoin ...