AFS NEWS | Your partners in success

What are capital works deductions? Claiming wear and tear on your property

Capital works deductions are income tax deductions an investor can claim for the wear and tear that occurs to the structure of the property or items considered to be permanently fixed to the property. This includes any structural improvements that may have been made during a renovation.

portable long service leave update

Industries added to Portable Long Service Benefits Scheme

The Portable Long Service Benefits Scheme (the Scheme) allows employees who change employers to carry their accrued long service leave over to their new employer, provided they are staying within an industry covered by the scheme.

Whistleblower policy date rolls over – is yours in place?

ASIC is reminding certain companies they were required to have a whistleblower policy in place and made available to officers and employees by 1 January 2020.

Client update | February 2020

Over the December and January period we were saddened to hear of the impact around the country to both our clients and their communities by the devastating bushfires.

Employers forced to play catch-up on personal leave

Up until August 2019, employees have been entitled to 76 hours personal leave per year. This entitlement was based on a 38 hour working week and intended to allow employees ten 7.6 hour days off per year.

small business owner

Summary of tax changes for small businesses in 2020

The new year brings with it some key tax changes for small business. It is important you are aware of these as they may have quite an impact on how your run your business. We narrowed it down to some of the core changes.