Tax Related Announcements as at 18th March
We will keep this blog post updated with any tax related announcements as they are announced...
Tax related announcements
- 2021/2022 year depreciation of 2% on commercial buildings
- For 2020/2021 year immediate asset write off for assets up to $5,000, from the 2021/2022 the threshold will be raised from $500 to $1,000 for minor assets on a permanent basis
- For 2020/2021 year provisional tax threshold raised to $5,000
- UOMI write off for struggling tax payers
- Removing the hours test from the in-work tax credit from 1 July 2020