What is the $20,000 Tax Break?

It is an immediate tax deduction for assets purchased by small businesses after the 2015 budget (12 May 2015) to reduce your tax. If your business turns over less than $2m per annum you can write off assets purchased up to $20,000. Purchases may include plant, equipment, furniture or vehicles – both new &/or used.

Fuel excise duty increased from 10th Nov 2014

Fuel excise duty (excluding aviation fuels) has increased from 10 November 2014, further increases will occur every six months, on 1 February and 1 August each year. This is in line with upward movements in the Consumer Price Index (CPI) however, fuel tax credit rates have not yet changed.