According to Coco Hou, CPA and CEO of Platinum Accounting Australia, there are a number of eligible car-related deductions, but strict rules apply.

“Car expenses are one of the most commonly misclaimed items on a tax return,” Hou said. “A lot of people assume they can claim just because they drive for work, but unless the travel meets specific criteria and you have accurate records, it won’t hold up under scrutiny.”

Hou stressed that understanding those rules can mean the difference between a maximised return and a costly audit.

The difference between private and work-related travel

One of the most important distinctions taxpayers must understand is the distinction between private travel and work-related travel. 

“Driving from home to your regular workplace is considered private, and is not deductible, no matter how far you travel or how often you drive. This includes tolls, parking and fuel costs related to the commute,” Hou said. “However, travel that occurs as part of your job, such as driving between worksites, attending client meetings, collecting supplies or transporting equipment, is considered work-related. Those kilometres and related costs may be eligible for deduction.”

Cents-per-kilometre vs logbook method for claiming deductions

The law specifies two main ways to claim car expenses: the cents-per-kilometre method and the logbook method.

“The cents-per-kilometre method allows you to claim up to 5000 business kilometres per year at a set rate, currently 85 cents per kilometre. This rate includes fuel, servicing, registration, insurance and depreciation, so those cannot be claimed separately,” Hou explained. 

She also recommended, “For people who do a significant amount of work-related driving, the logbook method is often more beneficial. It allows you to claim a percentage of actual car expenses based on your documented business use.” 

Hou emphasised as well that a logbook must be maintained for a continuous 12-week period and updated if the taxpayer’s usage pattern changes. Once established, that percentage can be applied to running costs such as petrol, oil, insurance, servicing, repairs, registration, loan interest and depreciation.

Other allowable deductions

The law also allows for car washes, detailing and even things like car air fresheners, sunshades, tissue boxes and car seat covers to be claimed as deductions but only under the logbook method and only in proportion to business use.

For example, if a taxpayer frequently drives clients or colleagues to meetings and want to keep the car clean and presentable, they may be able to claim a portion of those costs, but this must be documented and clearly tied to work-related activities.

“If you buy a car scent or get the car cleaned to make a good impression on a client you are driving to a meeting, that’s potentially deductible,” Hou said. “But if you just want your car to smell nice for personal reasons, that’s not a business expense.”

Parking, tolls, and garaging

In the same manner, taxpayers cannot claim parking at their regular place of work, however they can claim parking or tolls incurred while travelling to client meetings or other work-related destinations. If they paid for toll or for parking while heading to a job site, those receipts should be kept.

Hou also clarified that garaging is considered a private cost unless the home is the base of your business and the car is essential to your work operations.

Regarding leased or financed cars

Under the law, leased or financed cars are also covered for deduction. If using the logbook method, the interest portion of your lease or loan repayments can be claimed in proportion to business use provided there is documentation.

Ride-share drivers, small-business owners and tradespeople who rely on their vehicles to generate income may be eligible for more extensive deductions, but they must still follow the same record-keeping requirements. This includes maintaining fuel receipts, service invoices, insurance documents and a current logbook if using the actual expenses method.

“Just because you can access your car records doesn’t mean they are tax-compliant records,” Hou said. “You need to actively track your use and expenses, not just make assumptions or round figures. The ATO is very specific about this.”

Talk to an accountant

While the tax rules around vehicles can seem complex, Hou advises taxpayers to keep detailed records and speak to a qualified tax advisor before lodging their return.

“A lot of people miss legitimate deductions simply because they’re not aware of them, or worse, they claim things they shouldn’t and get caught out,” she said. “A short meeting with your accountant could save you hundreds and make sure you stay well within the rules.”

The post Accountant details what you can and cannot claim as vehicle tax deductions appeared first on Inside Small Business.

This week, the ATO revealed some of the dodgiest deductions workers tried to claim – in vain – and offered advice to taxpayers on where it draws the line.

“If your deductions don’t pass the ‘pub test’, it’s highly unlikely your claim would meet the ATO’s strict criteria,” said Rob Thomson, ATO’s assistant commissioner. (The ‘pub test’ is a reference to the understanding that people have a collective and natural sense of when something is unfair.)

He reminded taxpayers not to try to claim personal spending as work-related expenses because the ATO carefully measures claims to ensure they meet the office’s strict criteria. 

Last year, some of the more dodgy claims the ATO rejected included:

• A claim for home equipment and recreational devices such as an air fryer, microwave, two vacuum cleaners, a TV, a gaming console, and gaming accessories from a mechanic.
• Swimwear claims from a truck driver who said they would swim during transit stops. 
• An over-$10,000 claim of luxury-branded clothing and accessories from a manager in the fashion industry who wanted to look well-presented at work.

Chartered Accountants ANZ added to the list by sharing some of the ‘cheekiest claims’ its members’ clients had tried on, promising more revelations later this month. These included monthly salon haircuts, an engagement ring, the cost of a gym membership, and even big-ticket luxury purchases, including a luxury yacht – all considered dubious.

“Work-related expenses must have a close connection to your income-earning activities, and you should be prepared to back it up, with records like a receipt or invoice,” said Thomson.

Last year, most of the tax claims among more than 10 million work-related deduction cases related to working from home. The ATO advises home workers to calculate their deductible return using the fixed rate method or the actual cost method, which requires records to prove they incurred additional expenses due to working from home.

“If you’re anything like me, a paper receipt will get lost almost immediately. The MyDeductions tool on the ATO app allows you to keep records of your work and general expenses to make lodging your tax return easier,” said Thomson.

The ATO also gives out more information on specific deductions for different job occupations in its occupation and industry-specific guides.

• Further reading: Labor’s tax on unrealised super gains: What it means for business

The post Passing the ‘pub’ test: ATO reveals the craziest work-related expenses claims it nixed appeared first on Inside Small Business.

Starting 1 July 2025, SMEs are advised to brace for two key changes:

1. The Superannuation Guarantee (SG) rate increase from 11.5 per cent to 12 per cent, which is expected to increase payroll costs for employers. Late payments will attract the Superannuation Guarantee Charge (SGC), which is not tax-deductible. As such, businesses are reminded to check employee contracts to see if super is included in salaries or needs to be paid on top.
2. ATO interest charges would no longer be tax deductible as new tax laws will remove the ability to claim deductions for General Interest Charge (GIC) and Shortfall Interest Charge (SIC). This would entail that overdue tax liabilities would become more costly for SMEs in an attempt to further discourage late tax liability payments.

Two additional key payroll changes are set to take effect on 1 July 2026:

1. Introduction of the payday super, which entails that superannuation contributions will need to be paid with every wage cycle instead of quarterly, requiring businesses to have funds available more frequently. Late super payments are not tax-deductible. Payday super was announced as part of the 2023-24 Federal Budget and is yet to be legislated.
2. Closure of the Small Business Superannuation Clearing House (SBSCH) which is ATO’s free clearing house service. This means SMEs will need to find and pay for alternative platforms, such as Xero or MYOB, to process super payments.

Many industry leaders expressed worry that these upcoming changes would only serve to add to the burden of SMEs that have been struggling due to the crises they have faced in recent years.

Earlypay CEO James Beeson commented, “At a time when SMEs are already battling a tight labour market and rising operational costs, these changes will only add more pressure to their cashflow. Many businesses will need to rethink their finance strategies.”

ScotPac CEO, Jon Sutton also noted that the loss of tax deductibility from July 1 would make ATO payment plans a very expensive option for Australian businesses.

“Business owners with an ATO payment plan – or those considering applying for one – must understand the impact of these new rules and the options available to them,” Sutton said.

Experts are recommending for SMEs to do the following measures:

• Review budgets and payroll structures to account for increased SG rates and tax law changes.
• Ensure payroll systems can handle more frequent super payments.
• Explore alternative superannuation payment platforms before the SBSCH closure.
• Consider invoice finance to maintain steady cashflow and meet payroll and superannuation obligations.

Sutton has shared that financing alternatives such as business loans that act like a line of credit, invoice finance, or asset or equipment refinancing will be a superior cashflow solution for many businesses.

“Unlike the ATO’s General Interest Charge, the interest payable on the full range of loans from providers will remain tax-deductible after July,” he explained. “They are also likely to have longer repayment terms and more competitive interest rates, giving businesses more chance to get on top of their debt and keep the doors open.”

Beeson concluded, “SMEs need to act now to stay ahead of the changes and set themselves up for success.”

The post The cashflow-crunching payroll and tax changes that SMEs should prepare for now appeared first on Inside Small Business.

As a business owner, the idea of combining work with travel is appealing, but when it comes to tax deductions, the Australian Taxation Office (ATO) is strict. Many professionals are wondering what they can claim when traveling overseas if they attend a business event or conference.  Unfortunately the answer isn’t as straightforward as some might think.

The ATO places the burden of proof on taxpayers to demonstrate that their travel is primarily for business purposes.

Many business owners assume they can claim an entire trip simply because they attended a conference. In reality, some book a conference and then build a holiday around it, thinking they can claim the whole adventure as a tax write-off. The ATO is wise to this and expects clear documentation proving that the trip was for business purposes, not a disguised holiday. You’d be surprised at the type of analytics and data matching the ATO uses to flag inflated or bogus travel claims.

What you can claim

If your overseas trip is primarily for business, certain expenses may be tax-deductible, including:

• Airfares and transport costs directly related to business activities,
• Accommodation for business-related stays,
• Conference or seminar registration fees,
• Meals and incidental expenses during the business portion of the trip; and 
• Travel expenses required for meetings with clients, suppliers or partners

The ATO requires detailed records, including itineraries, receipts and proof of business engagements. Keeping a travel diary is essential to capturing all movements and expenses.

Clothes and other costs 

Accidents happen while traveling. If you forget a suit or a shoe heel breaks, you might need to replace them, but these expenses are not claimable. Clothing is considered a private expense. However, if you require specific work-related safety gear such as steel-capped boots for a trade event, these could be deductible.

Dining out can be deductible if the meal is part of a business-related event, like a networking dinner or a client meeting. However, personal meals while traveling are not deductible.

When it comes to transport, if you take a taxi or rideshare to a conference or business meeting, that expense is claimable. But if you use transport for sightseeing or personal activities, you have to cover those costs yourself. 

If you incur overseas phone or internet charges purely for work, they are deductible. However, if mixed with personal use,  then you must apportion the expense accordingly.

What you can’t claim

Certain expenses are not deductible.  While this should seem obvious, you would be surprised by the types of things that people try to claim.  The personal portion of any trip, such as sightseeing or extended stays for leisure, is not claimable. Nor are expenses for family members or non-business companions. Extravagant or unnecessary expenses, such as luxury entertainment or shopping are definitely not included. Essentially any travel not directly related to business purposes should not be claimed.

If your trip involves both business and leisure, you can only claim the portion directly related to work. For example, if you attend a three-day conference but stay two extra weeks on holiday, those additional days are not deductible.

Avoiding red flags with the ATO 

The ATO closely monitors overseas travel deductions, so maintaining accurate records is crucial. To avoid issues, you should keep detailed receipts and records of all expenses, maintain a travel diary to document business-related activities and ensure that business activities are legitimate and not just incidental to a holiday.  If you are unsure, seek professional advice. 

Claiming an overseas business trip on tax can be legitimate, but only if it meets ATO requirements. The best approach is to be honest, keep thorough records and ensure that business is the main purpose of the travel.

The post Overseas business travel tax deductions: What you can and can’t claim appeared first on Inside Small Business.

The general document that discusses the proposal described the removal of tax deductibility of the laGIC (general interest charge) and SIC (shortfall interest charge) imposed by the Australian Taxation Office as a fairness measure.

“Removing these deductions will enhance incentives for all entities to correctly self-assess their tax liabilities and pay on time, and level the playing field for individuals and businesses who already do so,” it stated.

The proposal is also seen as a revenue-generating measure – lifting the late tax payment fee exemption is expected to generate around $500 million every year for the government.

The measure is being opposed by different sectors, particularly the small-business sector.

Luke Achterstraat, CEO of The Council of Small Business Organisations Australia (COSBOA), said removing the deductibility of the late payment fees was a “punitive and radical departure from current practice” that would impact small business the most.

“The overwhelming majority of small businesses are doing the right thing and seek to pay their tax on time and pay it correctly,” Achterstraat said. “Targeted measures to deal with high-debt accounts would be more appropriate and equitable to encourage voluntary compliance across the tax system. Introducing a blanket policy of higher costs is indiscriminate, punitive and undermines the cashflow of small businesses grappling with tough operating conditions.”

Achterstraat noted that many small businesses were frustrated in their tax dealings.

“The Government should prioritise better service delivery and engagement with small business users before treating them with contempt,” he added.

CPA Australia has also voiced its opposition to the proposal, saying that the non-deductability would effectively raise the penalty rate by 25 per cent and up to 47 per cent for sole traders, depending on the marginal tax rate.

“By making these interest costs on tax debts non-deductible, the proposal risks the ballooning of tax liabilities of small businesses to unsustainable levels, potentially threatening their viability,” CPA Australia stated.

CPA Australia also decried the “moving of goalposts” with this measure, which COSBOA seconded.

“The ATO’s past sentiments to delay tax payments during the pandemic may not have been taken on by small business owners if they knew the GIC would later become non-deductible,” Achterstraat said. “Is this really about repaying outstanding tax debt, or just a penalty on taxpayers struggling to do the right thing and meet their obligations? The ATO risks biting the hand that feeds it if this policy is blindly pursued.”

Meanwhile, Liberal-National Coalition and the Senate crossbench called out the alleged underhanded tactics by the government to pass the controversial measure including it among unrelated but popular measures that the Coalition or the crossbench support.

“At a time of record business insolvencies, where Australia’s 2.5 million small businesses in particular are really struggling, the government needs to provide support rather than pile on the pressure,” said Independent Senator David Pocock. “This is another example of government rolling together unrelated measures in a game of wedge politics.”

The post Exemptions for late tax payment fees to be scrapped, sparking concerns appeared first on Inside Small Business.

“With only a few days left in the financial year, now is the time to talk to your tax professional if you think these things may be relevant for your business,” ATO Assistant Commissioner Emma Tobias said.

Firstly, the ATO are reiterating that boosts are available for small businesses investing in skills and training or digital operations such as cloud-computing, e-invoicing or cyber security technologies. Small businesses will receive a bonus 20 per cent tax deduction for eligible expenses in their tax returns.

“For every $100 spent, you’ll get a $120 tax deduction, but there are caps on the total amount that can be claimed,” Tobias explained. “If you’re a small business who invested in technology or digital operations between 29 March 2022 and 30 June 2023, then this boost is for you.”

Any item to be purchased to avail of this boost must be first used or be installed ready for use by 30 June 2023 in order to be eligible. The small business skills and training boost allows businesses to claim an additional 20 per cent tax deduction to train new and existing employees between 29 March 2022 and 30 June 2024. Training must be through a registered external training provider in Australia.

The ATO are also keen to stress that temporary full expensing (TFE) is set to end on 30 June 2023. TFE allows for an immediate deduction for assets, rather than claiming the depreciation over a number of years.

Until the deadline, small businesses can still claim an immediate deduction for the cost of eligible assets first used or installed ready for use by 30 June 2023 in this year’s tax returns.

However, the end of TFE on 30 June 2023 means that the cost of assets that are not already being used or installed ready to use by 30 June 2023 are not eligible for an immediate deduction under TFE in small business tax returns this year

“Even if you’ve paid a deposit or received an invoice, the asset must be installed ready to use by 30 June 2023,” Tobias said. “If the asset is not installed ready for use by the deadline, you may still be able to claim deductions under the general or simplified depreciation rules.”

Finally, the ATO are reminding SME owners that business-from-home deductions and car expense deductions have changed for this tax period. These changes consist of the following:

• The new cents per kilometre rate is 78 cents for 2022-23, but small-business owners are reminded to keep written evidence to show how they worked out the work-related kilometres. This method is available to sole traders and partnerships.
• The car limit has increased to $64,741 for the 2022-23 income year.

The working-from-home deduction methods have also changed for this year. Small businesses can choose one of two methods to claim working-from-home deductions: either the actual cost or fixed rate method. Only the fixed rate method is changing. However, the business structure can affect the method used and the expenses claimed, especially if the business is a company or trust.

“If you are claiming car or working from home deductions, make sure to keep good records,” Tobias said. “This will give you more flexibility to choose the approach that gives you the best deduction at tax time.”

The ATO recommends small businesses seek advice from a registered tax professional or read about the changes on the ATO website before making investment decisions.

The post ATO reminds small businesses what they need to address before 30 June appeared first on Inside Small Business.

Check your claims

Having a good understanding of the kinds of expenses you can claim as tax deductions has the potential to cut your tax bill, potentially more than you may think.

Small-business owners can claim running expenses as deductions on their income tax returns like rent and utilities, office expenses, staffing costs and expenses for marketing, insurance, travel and training.

“If your business has any of these expenses and you’re not claiming them as tax deductions, you’re leaving money on the table,” Scott Bailey, Senior Director and Head of Tax Accounting at ITP Accounting Professionals, says.

Small businesses can also claim capital expenses as tax deductions. Capital expenses include either the purchase cost of a depreciating asset or any expenses incurred during the transportation or installation of the asset.

Depreciating assets are items like machinery, EFTPOS machines, motor vehicles, furniture, computers and mobile phones which have a limited life expectancy and decline in value as they get older.

Consider pre-paying some expenses

ITP Accounting Professionals say one of the biggest misconceptions about tax time is that small-business owners do not appreciate some of the legal strategies that can help reduce their tax bill.

One common strategy is to pre-pay expenses like rent, insurance, website domain registration fees or website subscriptions before the end of the financial year to reduce your business’s taxable income for the current year.

Before you prepay expenses, ITP Accounting Professionals says you should consider the potential implication on your business’ cashflow and only pre-pay expenses that are genuinely needed for the business.

Check if you are eligible for other incentives

This year, there have been changes to some of the rules around tax incentives introduced to help assist businesses during the height of the COVID-19 pandemic.

Temporary full expensing was introduced to help encourage business investment and applies to businesses with an aggregated turnover of less than $5 billion.

Businesses can claim an immediate tax deduction for the business portion of the cost of eligible new depreciating assets that were first held and first used or installed and ready for use for a taxable purpose after 6 October 2020 until 30 June 2023.

Your small business may also qualify for the Small Business Income Tax Offset Grant which offers tax offsets of up to $1000 a year for unincorporated small businesses.

The Australian Tax Office (ATO) will determine the offset based on your business income.

Other top tips from the tax experts include:

• While 30 June officially marks the end of the financial year, your business tax return must be filed by 31 October or may extend to 15 May if you work with a registered tax agent.

• Make sure you keep good records. Many tax deductions are left unclaimed because of missing paperwork. The ATO also requires all individuals and small-business owners to keep records as proof of their tax claims.

• Get ready for next year now. Consider setting up a system on a spreadsheet, app or specialised software to keep all your financial records in one place.

With just a little bit of planning and extra insight, the end of the financial year does not have to be such a taxing time for your small business.

NB: The advice above is general. It is advisable to consult a registered tax professional regarding your specific tax situation.

The post How to make EOFY less stressful for your small business appeared first on Inside Small Business.

Assistant Commissioner Tim Loh explained that taxpayers can choose one of two methods to claim working-from-home deductions: either the “actual cost” or “fixed rate” method. Only the fixed rate method is changing.

The revised fixed rate method applies from 1 July 2022 and can be used when taxpayers are working out deductions for their 2022-23 income tax returns.

Loh added that these changes provide benefits for those using the revised fixed rate in 2022-23. “Items that are difficult and tedious for everyday Aussies to calculate actual work-use, like phone, internet and electricity expenses, are included in the revised rate,” Loh explained. “Assets and equipment that typically give taxpayers a bigger deduction, such as technological items and office furniture, are not included in the revised rate and need to be claimed separately. Another benefit is that you no longer need a dedicated home office to use the fixed rate method.”

Under the revised fixed rate, the cents per work hour has increased from 52 cents to 67 cents. This rate covers energy expenses (electricity and gas), phone usage (mobile and home), internet, stationery, and computer consumables. No additional deduction for any expenses covered by the rate can be claimed.

Meanwhile, the decline in value of assets used while working from home, such as computers and office furniture, repairs and maintenance of these assets, and costs associated with cleaning a dedicated home office can be claimed separately

In addition, the revised fixed rate method doesn’t require taxpayers to have a dedicated home office space to claim working-from-home expenses.

However, from 1 March 2023 taxpayers need to keep a record of all the hours worked from home for the entire income year and estimates will not be accepted by the ATO. Records of hours worked from home can be in any form like a four-week representative diary or similar document, provided they are kept as they occur, for example, timesheets, rosters, logs of time spent accessing employer or business systems, or a diary for the full year. Records must be kept for each expense taxpayers have incurred which is covered by the fixed rate per hour (for example, if taxpayers use their phone and electricity when working from home, they must keep one bill for each of these expenses).

Loh reassured taxpayers who haven’t kept records so far this income year that transitional arrangements are in place for 2022-23, saying that from 1 July 2022 to 28 February 2023 the ATO will accept a record which represents the total number of hours worked from home (for example a four-week diary). From 1 March 2023 onwards, taxpayers will need to record the total number of hours they work from home. And he urged taxpayers to bear in mind that they won’t be able to claim for things such as coffee, tea, milk and other general household items even if their employer may provide such items at work.

For those who opt to use actual cost method, no changes have been made. Taxpayers can still claim the actual work-related portion of all running expenses. This includes keeping detailed records for all the working-from-home expenses being claimed.

The ATO reminded taxpayers that if they are claiming their actual working from home expenses, they can’t claim a deduction for expenses that have already been reimbursed by their employer.

The ATO website has online tools to help taxpayers determine the decline in value of assets and equipment purchased and to keep track of expenses.

The post ATO makes changes to working-from-home deductions appeared first on Inside Small Business.

Assistant Commissioner Tim Loh expounded on the matter saying, “We know that many have faced significant challenges this year and the ATO is here to help you to get your tax right the first time.”

The ATO is reminding taxpayers to be aware of changes in circumstances that may affect what needs to be included as income or what can be claimed as a deduction. It notes that among the most common changes for taxpayers include receiving an income support payment and changing what can be claimed as a work-related expense.

“Tax time can be a smooth and easy experience if you know what income you must include and what COVID-19-related expenses you can claim in your tax return,” said Loh.

Taxpayers and their registered tax agents affected by COVID-19 or financial hardship can access support at the ATO website.

The ATO also announced that starting 1 July 2021, taxpayers who paid for a COVID-19 test for work-related purposes (such as to determine if they can go to work) can now claim a deduction for the test.

To avail of this deduction, taxpayers must provide a receipt or invoice or any record that will demonstrate that they paid for the test. However, taxpayers cannot claim for a test that their employer provided or if their employer reimbursed them for the cost. In addition, only tests that are required for work-related purposes can be claimed, not for tests that are required for leisure travel or other non-work related activities.

Taxpayers may be able to claim a deduction for the cost of protective items that protect against risk of illness or injury while performing work duties.

“If you’re spending your working day in close proximity to customers and at risk of contracting COVID-19, you may be able to claim a deduction for protective items such as gloves, face masks, or sanitiser. This will be most common in industries such as retail, cleaning and hospitality” said Loh.

The post ATO to continue offering assistance, relief for affected businesses appeared first on Inside Small Business.

According to the research, this confusion stems from the findings that one in four small-business leaders were unaware that they could be eligible for the Temporary Full Expensing concession to claim immediate deductions on depreciating assets first used or installed before 30 June. In addition, 54 per cent incorrectly assumed they could no longer claim the $150,000 Instant Asset Write-Off that may be used to claim on items purchased in previous tax years.

For the small-business leaders who are aware of these benefits, 23 per cent have increased their year-on-year spending on office supplies, furniture or business assets to take advantage of the government’s depreciation concessions for an increased tax return, with many indicating that they will spend an average of at least $17,000. The research noted that they may be looking to capitalise on the depreciation concessions available, including the recently announced (although not legislated yet) Technology Investment Boost.

“When Australians were required to work from home during the pandemic, many employees borrowed equipment from the office,” Officeworks General Manager Merchandise, Jim Berndelis, said, “As they have returned to their office in a flexible capacity, we have seen employers updating their office equipment such as ergonomic chairs, monitors and computer accessories. Were also seeing products such as mobile phones, cables and charging devices continue to be popular to ensure staff can stay connected no matter where they are working.

“As we approach June 30, we recommend small-business leaders consult their taxation professional to ensure they are making the most out of the incentives and capitalising on tax-deductible upgrades,” Berndelis added.

Incentives and savings opportunities are available on technology and office supplies to support staff working remotely as well as in the office, and 74 per cent have stated that they will support remote work setups regardless of whether they expert staff to return to the office or not. The research notes that it presents a unique opportunity for business leaders to claim more through the comprehensive Temporary Full Expensing concession.

“Small and medium-sized businesses across the country should be taking advantage of tax-related COVID-19 relief measures and depreciation concessions currently implemented by the Australian Government,” Taxation Manager, Rebecca Morgan on behalf of the National Tax and Accountants’ Association said. “They are not forever guaranteed.”

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