window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'G-42QDS3RDF2');

Temporary loss-carry back extension – 21/22 Budget issues

Companies with an aggregated turnover of less than $5 billion will be able to carry back losses from the 2019-20, 2020-21, 2021-22 and 2022-23 income years to offset previously taxed profits in the 2018-19, 2019-20, 2020-21 and 2021-22 income years. Under this measure tax losses can be applied against taxed profits in a previous year,

2022-04-14T05:28:43+00:00May 17th, 2021|Categories: Accounting News, Financial News, Tax News|Tags: , , , |

Temporary full expensing extension – 2021/22 Federal Budget issues

Temporary full expensing extension Businesses with an aggregated turnover of less than $5 billion will be able to continue to fully expense the cost of new depreciable assets and the cost of improvements to existing eligible assets in the first year of use. Introduced in the 2020-21 Budget, this measure will enable an asset’s cost

Go to Top