Monthly Archives: May 2025
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May 21, 2025
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Now that the elections are over and done with, were there any impacts or tax changes for tradies and businesses following the Federal Election? The short answer is there are no changes for the current tax year (1 July 2024 to 30 June 2025) and the tax related proposals submitted for the Federal Election won't come into play until 1 July 2026. So keep an eye out here for any updates we come across.
Processing your tax return during the June period doesn't have to be an arduous or costly task, particularly for tradies who can take advantage of some useful tax deductions on their tools. To assist you with this task and ease the burden of tax processing, we've compiled a list of expert tips that will help you maximize your return and gain a better understanding of the entire process.
*On May 14, 2024, the government unveiled the 2024–25 Budget, the $20,000 instant asset write-off for small businesses with an annual turnover of less than $10 million has been extended. This extension allows small
