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After the relevant legislation passed a Senate vote on Monday, small businesses can now formally receive a tax deduction of 2 yuan to purchase business-related supplies.

This measure is the highlight of this year's budget. At 11 am on Monday, the Senate held a brief discussion on it and passed legislation without amendment.

The bill was considered the highest priority in the Senate, and the debate lasted for about an hour.

When Finance Minister Hodge announced this measure in his May budget, small businesses cheered. The previous write-down standard was 5 yuan.

Any small business or self-employed person with an Australian business number (ABC) can enjoy this tax reduction as long as their annual turnover is less than 200 million yuan. This includes freelance journalists and anyone with ABN. Any business-related items can enjoy tax deductions, but they must be physical items. For example, expenses such as marketing expenses are not tax deductible.

This tax cut will take effect from the night of the Budget and will be valid until June 2017, 6. However, in an interview after the budget, Albert did not rule out expanding the scope of the tax cut.

Albert also does not rule out extending the effective period of tax cuts beyond 2017.

"Let's wait and see what happens," the prime minister told Sky News at the time.

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All 7 weird items can be declared

It sounds weird to declare tax benefits for Xbox game consoles, dogs and manicure tools, but for a legitimate small business, these are completely legal.

This fiscal year is about to end. Small business owners have begun to use their tax deductions. The 2 yuan tax benefit introduced in the federal budget has prompted people to pay more attention to what can be deducted and what cannot.

Here are seven weird tax deductions:

artwork

The good news is that paintings and artworks are legal tax deduction items, but they can only be deducted when they are used to decorate corporate offices.

Backyard studio

Many small business owners buy prefabricated studios, put them in their backyards, and declare tax deductions. Their prices are often less than 2 yuan, so they are eligible for tax deductions.

Dining and Drinks

Small business owners can also deduct tax on food and beverage expenses during business trips and overnight stays. But you must keep the receipt and small ticket.

There is no special fixed distance for the business trip, but it must be really unable to rush home in time.

two nine week old english bulldogs puppies and a red dog food dish

Your dog

If you domesticate a guard dog, its food and veterinary bills can be tax-deducted, even if you take the dog home with your family during the weekend.

Sunscreen, hat and sunglasses

Small business owners who work outdoors, such as gardeners and architects, can file tax deductions for sunscreen, hats and sunglasses.

Xbox game console

The Australian Taxation Office recently confirmed that small business owners can use ping pong tables to declare tax deductions, as long as they are used for businesses, and there are a series of employee entertainment expenses that can also be taxed, such as darts, Xbox game consoles and Foxtel TV subscription fees.

Knives, manicures and cosmetics

Small business owners can declare some items that seem incredible at first but are very reasonable under certain circumstances. For example, an artist performing sword swallowing can declare knife expenditures, while a hand model can declare manicure expenditures.

For example, if an administrative assistant tries to declare cosmetics, lipsticks and makeup brushes, it will definitely not work. But if the funeral officer puts makeup on the body, all these tools are tax deductible.

News compiled from "News Australia"

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