depreciation

Coronavirus Tax Changes

Leave a Comment / Coronavirus, Depreciation, Tax, Tax relief, Tax returns / By generateaccounting

Coronavirus Tax Changes The coronavirus pandemic has seen some significant tax changes announced. Media attention seems to have focused on the announcement on wage and salary subsidies but the government has also announced some important changes for the 2021 income year (1 April 2020 – 31 March 2021). Depreciation on Low Value Assets For nearly …

Coronavirus Tax Changes Read More »

Why do I have to depreciate an asset?

Leave a Comment / Deductions, Depreciation, Income Tax, Tax / By generateaccounting

Why do I have to depreciate an asset? There are two reasons. One is for tax purposes and the other is because fixed assets have a long life. Depreciation is pretty important area to understand for most businesses. It will impact your profit and so affect the amount of income tax you have to pay. …

Why do I have to depreciate an asset? Read More »

Generate Accounting is a CPA practice.