Daily Archives: September 28, 2018

Treasury Laws Amendment (Accelerated Depreciation for Small Business Entities) Act 2018 – 12 month extension of $20,000 instant asset write-off (to 30 June 2019) now law

The Treasury Laws Amendment (Accelerated Depreciation for Small Business Entities) Bill 2018 having been introduced on 24 May 2018; referred to the Senate Economics Legislation Committee on the same date, which reported on 30 May 2018 (unanimously supporting passage); was introduced into the Senate on 25 June 2018; sat in abeyance over 1 July 2018…

EU 3% ‘digital’ turnover tax on ‘significant global (digital) entities’ a possibility – global annual turnover of €750 million and annual EU revenue of at least €50 million

On 20 September 2018, The Irish Times reported that EU countries could agree a new short-term digital sales tax to apply to many of the major tech firms before the end of the year, according to Pascal Saint-Amans, the OECD’s leading tax expert, whilst speaking at the PwC/Irish Times tax summit, in Dublin (on 20 September 2018). Mr…