Temporary Full Expensing Ends on 30 June 2023
To address the downturn in business activity resulting from the pandemic the Federal Government introduced Temporary Full Expensing (TFE) on depreciating assets in 2020. This allowed owners to write off the cost of eligible new and secondhand assets.
On 30 June 2023, TFE will end but there are actions you can take.
The important feature of TFE is that the date of construction commencement is not the critical date to determine eligibility (among other tests) – it is the date of completion of a project that determines eligibility. And ‘completion’ means the asset is ready for use. This means that if you are having difficulty completing a project by 30 June 2023 and are eligible for TFE, you could consider several options, such as:
- Completing a portion of the project – and have it earning income before the remainder of the property is complete, and
- Bringing forward any expenditure to ensure it meets the deadline. Continue reading
Jo Masters of Barrenjoey provided us with all the current forces at play in the market, along with what her cloudy crystal ball is inidicating. Jason Weate of Dexus then guided the discussion with Deborah Coakley of Dexus, Justin Louis of Stockland and Harsh Narang of Blackstone Real Estate.
It was a lively and informative conversation with many topics covered, including the catalysts for renewed investment activity, and how they’re approaching an environment of higher interest rates.
Thank you to all the panelists for their time and for making it a fantastic event. And a huge thank you to Jason for stepping in at the last minute to moderate.
#napierblakeley #property #pcacapitalmarkets Continue reading →