HOW TO record receipt of the Instant Asset Write-off in Xero
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HOW TO record receipt of the Instant Asset Write-off in Xero. Brandon covers how to record in Xero when you purchase a new asset under the Instant Asset Write-Off incentives.
Here's what's covered:
✅ Support Documents
✅ Creating a bill
✅ Reconciling a deposit
✅ Reconciling Finance & paying the bill in full
✅ Recording the Fixed Asset
The updated alternative tests released by the Commissioner of Taxation are broadly similar to the alternative tests that were released in connection with the original decline in turnover test. However, there are some key differences.
To access JobKeeper payments from 28 September 2020, there are three questions that need to be assessed:
Is my business eligible? Am I and/or my employees eligible? and What JobKeeper rate applies?
We’ve summarised the key details in this update.
