Instant Asset Write-off and Depreciation Rules - 2020 & 2021 Web

The key depreciation rule changes and how to apply them effectively

Thursday, 27 August 2020

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FPA accreditation: 22937
Total CPD hours: 1.25
0.50 Regulatory compliance & consumer protection
0.75 Technical competence

Depreciating assets: When immediate deductions can be claimed
Interaction between the instant asset write-off, pooling and accelerated depreciation rules
Common problem areas and practical issues

The Government has introduced a number of measures in recent months designed to shelter the Australian economy from the impact of COVID-19. Some of the measures are delivered through the tax depreciation system and a wide range of business clients will be able to benefit. This includes the $150,000 instant asset write-off rules that have recently been extended to 31 December 2020. 

The Instant Asset Write-off and Depreciation Rules for 2020 & 2021 Webinar covers the practical detail and application of the key changes to the depreciation rules that are likely to impact on your business clients.   

We work through the timing rules, identify which assets can qualify for an immediate deduction, when SBE general pools can be written-off, how the accelerated depreciation rules apply, and the differences between being a small business entity or medium business entity. 

We also cover some of the planning opportunities and tip and traps that you need to be aware of.

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Thursday, 27 August 2020

12:00pm - 1:15pm AEST in ACT, NSW, QLD, TAS & VIC
11:30am SA & NT
10:00am WA

1.25 PD Hours
Reference notes included
Recording access for 3 months

FPA points pending

What we cover

  • The assets that can qualify for the immediate deduction rules and what will miss out
  • The grouping rules that need to be considered
  • Limitations that apply when claiming deductions
  • How the accelerated depreciation rules work in practice
  • How the timing rules apply
  • The difference between being a small business entity and a medium business entity
  • Changes that apply to clients with a substituted accounting period
  • Planning considerations

Our Presenter
Michael Carruthers
Tax Director, Knowledge Shop

Michael oversees the development of the tax team for Knowledge Shop and Hayes Knight in Sydney and is head of the Easton group’s national tax committee.

Michael has a knack for seeing through the complexity and helping practitioners work through highly technical issues with certainty and accuracy. Michael is a member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.

He was also an expert panel member for the Board’s review of tax impediments facing small business.

Michael Carruthers
Michael Carruthers
Tax Director, Knowledge Shop

Thursday, 27 August 2020

12:00pm - 1:00pm AEST in ACT, NSW, QLD, TAS & VIC
11:30am SA & QLD | 10:00am WA

Member

  • $195 Individual access
  • $430 Office access*
Member Register

Non-Members

  • $235 Individual access
  • $480 Office access*
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Terms & conditionsAll registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.

*The office rate applies per office location (maximum participants temporarily increased to 20 per office location). The PD points for all attendees will be recognised - multiple links at same location if required. We will contact you for the names of your team once you have registered as an office.

Requirements

You will need a computer with audio!!

  • Audio Your computer needs speakers or a headset to hear the audio (do a quick check these work). If you are having problems, you can dial in on the phone number provided on the reminders and confirmation but please note your carrier will charge you at long distance rates.
  • Software Join the webinar 15 minutes prior to check that your computer systems allow you to download the GoToMeeting software. Or check your connection days before the webinar by going here
  • Webinar URL To join the webinar, you need to click this link. It was sent to you when you registered and will also be on the reminders - check your spam if you have not received and please contact us ASAP if you have lost.
  • Changing computers If you need to change computers during the webinar, make sure you log off the webinar on the first computer before logging onto the second computer.
  • PC requirements PC users (Windows® 8, 7, Vista, XP or 2003 Server) ; Mac users (Mac OS® X 10.6 or newer); Mobile users (iPhone®, iPad®, Android™ phone or Android tablet).