Depreciating Assets

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Depreciating Assets

Depreciating Assets

Have you sold or lost a depreciating asset? If you cease to hold or use a depreciating asset, a balancing adjustment event may occur. A balancing adjustment is calculated by comparing the asset’s termination value (e.g. the sale proceeds) with its adjustable value (the cost of the asset less depreciation deductions). If the asset’s termination […]

Meet Frank Moore

Meet Frank Moore

Meet Frank Moore! Frank founded the Moore Lewis & Partners firm in 1986 as a sole practitioner, after completing his Bachelor of Business in 1984. He has worked here for over 34 years (we know – a VERY long time!) and his extensive experience and knowledge enables him to provide sound business advice to his […]

Claiming Your Phone as a Work Related Expense

Claiming Your Phone as a Work Related Expense

If you’re like most of us – using your phone for work has fast become the new norm and is vastly classified as an essential tool for work So, if you do use your phone for work – here’s what you need to know if you’re claiming deductions: Firstly, you must personally pay for the […]

Tax time – knowing what you can and can’t claim in 2020

Tax time – knowing what you can and can’t claim in 2020

We could possibly name 2020 as ‘the working from home’ year, due to changes in working arrangements due to COVID-19.  These changes have had many people wondering what they can and can’t claim as a deduction at tax time. So let’s look at what you can claim first; Home office equipment including computers, printers, phones, […]

Changes to payment summaries for the 2019/20 financial year

Changes to payment summaries for the 2019/20 financial year

If you are still waiting to book your tax appointment in for the 2019/20 financial year, because you are waiting to receive a payment summary from your employee, then you need to keep reading.  Employers who report employees income, tax and super information to the ATO through Single Touch Payroll (STP), are no longer required […]