The 2021 financial year has been a whirlwind. With COVID-19 restrictions easing to almost nothing, businesses have learnt to adapt quickly to change. The new rules for temporary full expensing of assets and the write off of all general asset pools will bring large deductions to most businesses, as such, there are a number of strategies that should also be considered, including:
We have adjusted our work papers and processes to ensure we explore all these opportunities and look forward to working with clients as we prepare March 2021 activity statements.