Year-end tax planning Part 4 – 2020-21 full expensing and accelerated depreciation; maturing UPE ‘sub-trust’ arrangements; Div 7A Minimum Yearly Payment Covid relief again; ‘working from home’ deductions; first ‘loss carry back’ offset year
For the financial year ended 30 June 2021 (2020-21 financial year) this article surveys: claiming the ‘Temporary full expensing’ deductions or the Backing Business Investment accelerated depreciation deductions; the need for an extension of ATO guidance, to ‘unpaid present entitlement’ sub-trust arrangements, maturing in the 2020–21 income year (broadly that a Div 7A, s109N complying loan agreement can satisfy…