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Notes Online Home 2021 Tax Schools Day 2 What’s new for business in 2021?
In this chapter of the notes, we discuss the newest updates for business in 2021. These changes are examined under the following broad headings:
- Government introduces new temporary depreciation concessions for SBE taxpayers
- New depreciation concessions introduced for medium and larger-sized businesses
- Major changes to business tax returns in the 2021 income year
- ATO releases long awaited Ruling on the taxation of professionals
- Update on the Single Touch Payroll measures for family businesses
- Recording and paying stimulis payments (e.g., JobKeeper) from companies and trusts