AFS NEWS | Your partners in success

Unsuspecting commercial property owners missing out on deductions

Commercial properties are often renovated to suit the needs of the business occupying them, however, many people are unaware that on removal, the owner of the asset can claim the remaining value as an immediate deduction in that same financial year. This is known as scrapping.

Client update | June 2019

The biggest news of the month saw the Reserve Bank of Australia cut the cash rate to 1.25% after almost two years steady at 1.5%.

New protection for whistleblower reports

From 1 July 2019, the whistleblower protections in the Corporations Act will be expanded.

FBT and depreciation limits on vehicles other than cars

As we farewell another Fringe Benefits Tax (FBT) year we often hear questions around private use of vehicles and whether larger ‘utes’ are exempt from FBT, such as Chevrolet Silverados, Dodge Rams, Ford F150s and the like.

Take your leave with you – new laws for long service leave

The Long Service Benefits Portability Act 2018 has been passed by Parliament and will come into operation by 1 July 2019.

Client update | April 2019

On the global front, growing concerns about a slowdown in economic growth preoccupied financial markets in March. The US Federal Reserve now forecasts no rate rises in 2019 instead of the two it previously planned. US 10 year government bond yields fell below three month yields on the news. This ‘inverted’ yield curve is viewed by […]