Capital allowances: draft effective lives of assets used in car parking and the parking services industry
The ATO has just released below New Effective Lives of Div.40-95 plant on Operating Plant with regards to Carparks.
Our National Tax Director, Paul Mazoletti is pleased to advise he will review over the Christmas break and respond to the ATO with comments accordingly.
In the meantime please ensure you all have a safe holiday and lovely Christmas on behalf of the team at Napier & Blakeley.
Proposed new determinations
They propose to add the following list of effective life determinations to the Commissioner’s schedule to apply to assets purchased (or otherwise first used or installed ready-to-use) on or after 1 July 2016 (within the meaning of section 40–95 of the Income Tax Assessment Act 1997). Continue reading
It was also another busy year for Napier & Blakeley, with our independent trusted advisory services again being in great demand from both local and offshore clients investing in Australia and SE Asia.
In 2016, we managed client projects across all states and territories of Australia and also in Singapore, Hong Kong, Indonesia, Sri Lanka, Fiji, The Maldives, Guam and New Zealand.
We would like to say a big thank you to all of our clients and send all of you and your families our Season’s Greetings. We look forward to working with you again and to a successful and prosperous 2017 for all.
Our offices will close at 5pm on Friday 23rd December and reopen on Monday 9th January.
Should you have any urgent business during that time, please contact our Managing Director, Alastair Walker on 0419 503 289 or at awalker@napierblakeley.com. Continue reading →