{"id":13909,"date":"2015-06-26T07:25:45","date_gmt":"2015-06-25T19:55:45","guid":{"rendered":"http:\/\/quantiphy.com.au\/oldbackup\/accelerating-expenditure-non-sbe\/"},"modified":"2020-11-29T00:54:45","modified_gmt":"2020-11-28T13:24:45","slug":"accelerating-expenditure-non-sbe","status":"publish","type":"post","link":"https:\/\/quantiphy.com.au\/oldbackup\/accelerating-expenditure-non-sbe\/","title":{"rendered":"Accelerating expenditure \u2013 non-SBE"},"content":{"rendered":"

This is where a business taxpayer brings forward the expenditure on regular, on-going deductible items. However, business taxpayers are generally entitled to deductions on an ‘incurred basis’.
\nTherefore, there is generally no requirement for the expense to be paid by 30 June 2015. As long as the expense has genuinely been incurred, it will generally be deductible.
\n\uf0d8
\nChecklist<\/strong>
\nThe following may act as a checklist of possible accelerated expenditure:
\nDepreciating assets costing<\/strong> $100 or less can be written off in the year of purchase.
\nDepreciating assets costing less than $1,000 can be allocated to a low value pool and depreciated at 18.75% (which is half of the full rate of 37.5%) in their first year regardless of the date of purchase.
\nRepairs<\/strong> \u2013 repairs to office premises, equipment, cars or other business items.
\nConsumables\/spare parts<\/strong>.
\nClient gifts.<\/strong>
\nDonations.<\/strong>
\nAdvertising.<\/strong>
\nFringe benefits<\/strong> \u2013 any benefits to be provided, such as property benefits, could be purchased and provided prior to 1 July 2015.
\nSuperannuation<\/strong> \u2013 contributions to a complying superannuation fund, to the extent contributions are actually made (i.e., they cannot be accrued but must be paid by 30 June).<\/p>\n","protected":false},"excerpt":{"rendered":"

This is where a business taxpayer brings forward the expenditure on regular, on-going deductible items. However, business taxpayers are generally entitled to deductions on an ‘incurred basis’. Therefore, there is generally no requirement for the expense to be paid by 30 June 2015. As long as the expense has genuinely been incurred, it will generally…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-13909","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nAccelerating expenditure \u2013 non-SBE - Quantiphy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/quantiphy.com.au\/oldbackup\/accelerating-expenditure-non-sbe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Accelerating expenditure \u2013 non-SBE - Quantiphy\" \/>\n<meta property=\"og:description\" content=\"This is where a business taxpayer brings forward the expenditure on regular, on-going deductible items. 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