Tax Facts Datacard 2020/2021
27 November 2020
The BDO in Australia 2020-2021 Tax Facts Datacard is now available and provides general tax information for business and individuals, as well as miscellaneous compliance issues for the current year of 2020-2021.
The BDO Tax Facts Datacard has been released a little later than usual to take into account measures announced in the deferred Federal Budget held on 6 October 2020.
Highlights include various Government measures to assist taxpayers as a result of the impact of Covid-19, in particular:
- Changes to individual tax rates to provide tax relief to assist economic recovery
- Generous concessions enabling taxpayers to deduct the full cost of qualifying capital assets
- Loss recoupment concessions for corporate tax entities enabling them to temporally claim tax losses against a prior tax year’s income tax liability, and
If you have any queries in relation to the information contained in the BDO Tax Facts Datacard, we suggest you contact your BDO professional adviser, who will be pleased to assist.