Latest news - Forvis Mazars

How does the $30,000 Instant Asset Write-off work?

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The 2019-2020 Australian Federal Budget included an increase in the ‘Instant Asset Write-off’ for assets costing less than $30,000 (ie $29,999).

This allows businesses that meet the relevant turnover criteria to claim an income tax deduction in full for the cost of purchasing an asset that costs less than $30,000.

Redundancy and redeployment - the Devil is in the detail

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A recent decision of the Fair Work Commission (FWC) highlights the importance of accurately documenting the redundancy processes, including any alternative offers of employment.

2019/20 Federal Budget Tax Brief

The Federal Treasurer, Mr Josh Frydenberg, handed down the 2019/20 Federal Budget at 7:30 pm (AEDT) on 2 April 2019.

2019/20 Federal Budget Superannuation Brief

While there may be a new look leadership this year, the 2019/20 Federal Budget handed down by Treasurer Mr Josh Frydenberg continued the theme from last year of leaving superannuation largely untouched.

Contractors to require Statement of Tax Record (STR) for Federal Government contract tenders

From 1 July 2019, any business tendering for a Government contract worth more than $4 Million must provide a Statement of Tax Record (STR) as part of the tender process.

Government extends the instant asset write-off

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In welcome news, the government has recently announced it will extend the instant write-off opportunity for a further year and increase the asset cost threshold from $20,000 to $25,000.

Creating Shared Value(s): Mazars publishes its 2017-2018 Annual Report

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With our 2018 Yearbook, part of our 2017-2018 Group Annual Report, we take a step back and reflect on our international development and growth.

2 ways to increase profits that don’t involve new business

Often when business owners plan to increase profits, cutting operating costs is the first instinct. It makes perfect sense on paper but the reality in many cases is that costs can only be reduced minimally before the quality of your offering starts to suffer. Subsequently, when value is reduced your customers lose out.

ACNC revised lodgement deadline of 31 March fast approaching

The end of the extended lodgement period has nearly expired for charities yet to report for 30 June 2018 with the 31 March deadline fast approaching.

Melbourne-Based Professional Services Firm Cummings Flavel McCormack Joins Mazars in Australia

Mazars in Australia is pleased to announce that the well-respected Melbourne-based professional services firm Cummings Flavel McCormack (CFMC) has joined the Mazars network in Australia.