Straight Talk Accounting & Tax

🔷 The 𝟐𝟎𝟐𝟒 𝐬𝐦𝐚𝐥𝐥 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐞𝐧𝐞𝐫𝐠𝐲 𝐢𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞 offers a 20% bonus deduction for energy-efficient assets. If your business has an annual turnover of less than $𝟓𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧, you could benefit from this incentive on assets used or installed between 1 𝙅𝙪𝙡𝙮 2023 𝙖𝙣𝙙 30 𝙅𝙪𝙣𝙚 2024. This deduction is in addition to your regular deductions, with up to $𝟐𝟎,𝟎𝟎𝟎 available per business. 🔷 https://lnkd.in/gmiTYRr7

🔹If you’ve invested in 𝐞𝐧𝐞𝐫𝐠𝐲-𝐞𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 assets this year, you may qualify for a 20% bonus deduction under the new small business energy incentive! This applies to businesses with a turnover of less than $𝟓𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 and covers assets first used or installed from 1 July 2023 to 30 June 2024. With up to $𝟏𝟎𝟎,𝟎𝟎𝟎 in eligible spending, you could secure a significant 𝐭𝐚𝐱 𝐛𝐞𝐧𝐞𝐟𝐢𝐭! 👇 🔹https://lnkd.in/gmiTYRr7

🔷 If you’ve upgraded or purchased energy-efficient assets in the 𝟐𝟎𝟐𝟒 𝐢𝐧𝐜𝐨𝐦𝐞 𝐲𝐞𝐚𝐫, you could be eligible for a 20% bonus deduction! 🔷 This 𝐢𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞 is available for businesses with an annual turnover of less than $𝟓𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 and applies to assets used or installed between 1 July 2023 and 30 June 2024. With up to $𝟏𝟎𝟎,𝟎𝟎𝟎 in eligible expenditure, you could secure a bonus deduction of up to $𝟐𝟎,𝟎𝟎𝟎! https://lnkd.in/gmiTYRr7

🔷 If your business wants to boost energy efficiency, the new 𝘀𝗺𝗮𝗹𝗹 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗲𝗻𝗲𝗿𝗴𝘆 incentive could help you save even more. 𝗘𝗹𝗶𝗴𝗶𝗯𝗹𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 can use a special bonus deduction that rewards 𝗲𝗻𝗲𝗿𝗴𝘆-𝗲𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝘁 𝘂𝗽𝗴𝗿𝗮𝗱𝗲𝘀 and new purchases. Curious about how your business can benefit? 𝗖𝗹𝗶𝗰𝗸 𝗵𝗲𝗿𝗲 𝙩𝙤 𝙛𝙞𝙣𝙙 𝙤𝙪𝙩 𝙢𝙤𝙧𝙚 𝙖𝙣𝙙 𝙨𝙚𝙚 𝙞𝙛 𝙮𝙤𝙪 𝙦𝙪𝙖𝙡𝙞𝙛𝙮. 🔷 https://lnkd.in/gmiTYRr7

Are you aware of the latest 𝐀𝐓𝐎 𝐭𝐢𝐩𝐬 𝐚𝐧𝐝 𝐮𝐩𝐝𝐚𝐭𝐞𝐬? Main residence exemption tips for property sellers, Medicare levy exemption data-matching program details, and small business 𝐂𝐆𝐓 concessions upheld by the 𝐀𝐀𝐓. Ensure you're making informed decisions about your taxes. 𝐂𝐥𝐢𝐜𝐤 𝐭𝐡𝐢𝐬 𝐥𝐢𝐧𝐤: ℎ𝑡𝑡𝑝𝑠://𝑠𝑡𝑟𝑎𝑖𝑔ℎ𝑡𝑡𝑎𝑙𝑘𝑎𝑡.𝑐𝑜𝑚.𝑎𝑢/𝑖𝑚𝑝𝑜𝑟𝑡𝑎𝑛𝑡-𝑎𝑡𝑜-𝑛𝑒𝑤𝑠-𝑓𝑜𝑟-𝑡𝑎𝑥𝑝𝑎𝑦𝑒𝑟𝑠/

The 𝐀𝐓𝐎 has shared crucial updates on the main residence exemption, Medicare levy exemption data-matching, and 𝐂𝐆𝐓 𝐬𝐦𝐚𝐥𝐥 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 concessions. Find out how renting your property, changes in residency, or earning income from your home could affect your 𝐭𝐚𝐱 𝐞𝐱𝐞𝐦𝐩𝐭𝐢𝐨𝐧𝐬. Learn how small businesses can reduce capital gains tax through recent AAT decisions. 𝐂𝐥𝐢𝐜𝐤 𝐭𝐡𝐢𝐬 𝐥𝐢𝐧𝐤: https://lnkd.in/gVVsmHt6

☑𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐢𝐧𝐠 𝐬𝐞𝐥𝐥𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐦𝐚𝐢𝐧 𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐜𝐞? Make sure you’re aware of key tips to maximize your main residence exemption. Learn about the 6-year absence rule, changes in residency, and income considerations. Stay updated on the 𝑴𝒆𝒅𝒊𝒄𝒂𝒓𝒆 𝒍𝒆𝒗𝒚 𝒆𝒙𝒆𝒎𝒑𝒕𝒊𝒐𝒏 𝒅𝒂𝒕𝒂- 𝒎𝒂𝒕𝒄𝒉𝒊𝒏𝒈 𝒑𝒓𝒐𝒈𝒓𝒂𝒎 to avoid surprises. Small business owners, discover how the CGT small business concessions can benefit you! ◾𝐑𝐞𝐚𝐝 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐟𝐨𝐫 𝐞𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬: https://lnkd.in/gVVsmHt6

Navigating the complexities of 𝙩𝙖𝙭 𝙚𝙭𝙚𝙢𝙥𝙩𝙞𝙤𝙣𝙨 can be daunting, but the 𝐀𝐓𝐎'𝐬 latest tips on the main residence exemption can help you make informed decisions when selling or renting out your property. If you’ve started earning income from your home, a market valuation for 𝐂𝐆𝐓 purposes might be necessary. For those planning to rent out their main residence, considering the 6-year absence rule could potentially save you on taxes when you sell. Remember, you can only have one main residence at a time, although there’s a 6-month grace period when transitioning between homes. Additionally, changes in your residency status could impact your eligibility for the main residence exemption. 𝐖𝐚𝐧𝐭 𝐭𝐨 𝐤𝐧𝐨𝐰 𝐦𝐨𝐫𝐞? Read our detailed article to get the full scoop on these important updates and tips! Don’t miss out on maximizing your tax benefits. https://lnkd.in/gVVsmHt6

🔷Did you know that if you're self-employed, you can deduct organizing expenses from your taxes? 🔷It's true! The IRS allows deductions for business-related expenses, so investing in organizing tools might save you money. Don't miss out on this tax-saving opportunity! 👉https://lnkd.in/g9ntAeRy

🔷Lost receipts mean lost deductions. Keeping everything ensures you don't miss out on potential savings. 🔷So, stay organized and keep your receipts handy to maximize your tax deductions! #taxtime #taxseason 👉https://lnkd.in/g9ntAeRy