{"id":17323,"date":"2022-06-28T05:08:59","date_gmt":"2022-06-28T05:08:59","guid":{"rendered":"https:\/\/cos.p10.sol1.net\/?p=17323"},"modified":"2022-07-12T04:02:44","modified_gmt":"2022-07-12T04:02:44","slug":"what-to-buy-eofy-tax-deductions","status":"publish","type":"post","link":"https:\/\/www.cos.net.au\/c\/cospedia\/what-to-buy-eofy-tax-deductions","title":{"rendered":"What to Buy this EOFY to Maximise your Tax Deductions"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17323\" class=\"elementor elementor-17323\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f1afa1a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f1afa1a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-53d2e27\" data-id=\"53d2e27\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2dc6bd1 elementor-widget elementor-widget-text-editor\" data-id=\"2dc6bd1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Somehow, it\u2019s almost that time of year again\u2026..tax time! This year, there\u2019s a great opportunity for you to take advantage of the <a title=\"temporary full expensing scheme\" href=\"https:\/\/www.ato.gov.au\/Business\/Depreciation-and-capital-expenses-and-allowances\/Temporary-full-expensing\/?=redirected_URL\" target=\"_blank\" rel=\"noopener\">temporary full expensing scheme<\/a>, and claim tax deductions on technology, office supplies, furniture, and kitchen essentials.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2560dc4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2560dc4\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3620c07\" data-id=\"3620c07\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6709551 elementor-widget elementor-widget-heading\" data-id=\"6709551\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Temporary Full Expensing Scheme<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-08db123 elementor-widget elementor-widget-text-editor\" data-id=\"08db123\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The <a title=\"Temporary Full Expensing\" href=\"https:\/\/www.ato.gov.au\/Business\/Depreciation-and-capital-expenses-and-allowances\/Temporary-full-expensing\/?=redirected_URL\" target=\"_blank\" rel=\"noopener\">Temporary Full Expensing<\/a> measure introduced by the Australian Government to help businesses recover from the impacts of COVID-19 remains in place this year and next. This scheme gives eligible businesses the opportunity to claim immediate tax deductions for the total value of assets, purchased, and installed ready for use.<\/p><ul><li>Businesses with an aggregated turnover of less than $5 billion, or those meeting an alternative eligibility test, can claim the total cost of new depreciating assets of any value used or installed ready for use between October 6, 2020, and June 30, 2023.<\/li><li>Small businesses with an aggregated turnover of less than $50 million, are eligible to claim the second-hand depreciating assets. Businesses can apply temporary full expensing to the cost of upgrades for the eligible depreciating assets bought between October 6, 2020, and June 30, 2023.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5109152 elementor-widget elementor-widget-heading\" data-id=\"5109152\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Where to Spend for a Refreshed Workspace<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-db4c0ae elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"db4c0ae\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b02e5a2\" data-id=\"b02e5a2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4be29a4 elementor-widget elementor-widget-text-editor\" data-id=\"4be29a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Investing in your employees and their working environment is not only a great way to take advantage of incentives and claim some big tax deductions, it\u2019s also a thoughtful way to ensure your team are benefiting from proper ergonomics, avoiding the inevitable issues that come with the alternative (back problems, absenteeism etc), and improving productivity. Win win!<\/p><p>Simple ways to use the \u2018End of Financial Year\u2019 to benefit your staff include upgrading your office with ergonomic furniture, investing in a revamped and improved breakroom, and adding some new technology essentials to make employees\u2019 work-life healthier, more productive, and enjoyable.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3d7c07a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3d7c07a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fb3d7d0\" data-id=\"fb3d7d0\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad02f4d elementor-widget elementor-widget-text-editor\" data-id=\"ad02f4d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>Refurbishing office workstations:<\/strong> With Australian workers spending approximately 39 hours per week sitting down at work, it\u2019s critical for businesses to invest in <a title=\"ergonomic furniture\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=ergonomic%20furniture&amp;categories=45&amp;brands=&amp;symbols=&amp;sortBy=Popularity_ASC&amp;utm_campaign=Marketing%20Emails&amp;utm_medium=email&amp;_hsmi=211836223&amp;_hsenc=p2ANqtz-8JPPyx4SWfGZZzzwrcuLMS09hby-4BfnUsfobXtCJsUhCqhw6IYVACUOKz2V9nE0gVm6cYr4pia6BPQzEq1MKDm3BhJw&amp;utm_content=211836223&amp;utm_source=hs_email\" target=\"_blank\" rel=\"noopener\">ergonomic furniture<\/a> and <a title=\"tech accessories\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=ergonomic%20accessories&amp;categories=15&amp;brands=&amp;symbols=&amp;sortBy=Popularity_ASC&amp;utm_campaign=Marketing%20Emails&amp;utm_medium=email&amp;_hsmi=211836223&amp;_hsenc=p2ANqtz--Ambj6zbeLnqXNezZ1mJkD5hebsHSzsXi_OL17hQDuoYWPa3tlhpJBamaGJh0sOpfizj3RBkFJ8mDMVzmPDliBrHTE0Q&amp;utm_content=211836223&amp;utm_source=hs_email\" target=\"_blank\" rel=\"noopener\">tech accessories<\/a>. Everything from adjustable <a title=\"standing desks\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=&amp;productCodes=DESK0803BK%7CDESK0519WE%7CDESK2601NO%7CDESK0519BK%7CDESK0518BK%7CDESK0518WE%7CDESK2602WE%7CDESK2605WE%7CDESK2601WE&amp;utm_campaign=Marketing%20Emails&amp;utm_medium=email&amp;_hsmi=211836223&amp;_hsenc=p2ANqtz--2WQf7_5ZBWCKaqlHuQ589ZBneDby91e-GdU1jG_RwCfLOk-QGoc43FyFU2x7Kp0OunDNb9yQh2FBmCE3DVggveZINGQ&amp;utm_content=211836223&amp;utm_source=hs_email\" target=\"_blank\" rel=\"noopener\">standing desks<\/a>, <a title=\"chairs\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=chair&amp;categories=4521%7C4522&amp;brands=&amp;symbols=&amp;sortBy=Popularity_ASC\" target=\"_blank\" rel=\"noopener\">chairs<\/a>, <a title=\"mouse\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=mouse&amp;categories=159015&amp;brands=&amp;symbols=&amp;sortBy=Popularity_ASC\" target=\"_blank\" rel=\"noopener\">mouse<\/a>, and <a title=\"footrests\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=footrest\" target=\"_blank\" rel=\"noopener\">footrests<\/a> to well-positioned <a title=\"display risers\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=&amp;productCodes=DESK0801WE%7CDESK0802BK%7CDESK0802WE%7CDESK0801BK&amp;utm_campaign=Marketing%20Emails&amp;utm_medium=email&amp;_hsmi=211836223&amp;_hsenc=p2ANqtz-8EAWo-4P6GhvU9GiQ8g9Qw15DJVVViYt_GaloI6SHy9mhVcvS2LmGx6uubx7_Tb7fjKVTtmMJ_v8RZJ1bdgVY-6m640g&amp;utm_content=211836223&amp;utm_source=hs_email\" target=\"_blank\" rel=\"noopener\">display risers<\/a> can help boost employees\u2019 mental well-being and focus, keeping them happy and healthy throughout the week.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71ce0de elementor-widget elementor-widget-text-editor\" data-id=\"71ce0de\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>Office machines and accessories:<\/strong> Don\u2019t let your employees struggle due to outdated equipment, as you might miss out on valuable potential. Upgrade office equipment during the end of financial year with a high-quality scanner, <a title=\"shredder\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=shredder&amp;categories=476020&amp;brands=&amp;symbols=&amp;sortBy=Popularity_ASC\" target=\"_blank\" rel=\"noopener\">shredder<\/a>, <a title=\"printer\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=printer&amp;categories=374010%7C3732&amp;brands=&amp;symbols=&amp;sortBy=Popularity_ASC\" target=\"_blank\" rel=\"noopener\">printer<\/a>, or <a title=\"fax machine\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=fax%20machine&amp;categories=371305&amp;brands=&amp;symbols=&amp;sortBy=Popularity_ASC\" target=\"_blank\" rel=\"noopener\">fax machine<\/a> to run everyday business activities smoothly.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f60eb05 elementor-widget elementor-widget-text-editor\" data-id=\"f60eb05\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>Breakout space:<\/strong> As more and more employees are returning back to work it\u2019s important to create a space where they can relax, interact, and collaborate with others. Invest in relaxing and comfortable seating options that allow employees and visitors to unwind and be at ease. Choose furniture that encourages them to take a break from their work. Consider plush couches, bean bags, and pod seats to add a bit of fun texture and a splash of colour to the surrounding.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-923a9fc elementor-widget elementor-widget-text-editor\" data-id=\"923a9fc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>Kitchen Upgrade:<\/strong> The kitchen is one of the most significant aspects of your workplace culture. It\u2019s the place where employees gather with their co-workers to recharge and take a break from the daily grind. Having a well-kept kitchen can make employees more productive and increase satisfaction. Investing in a high-grade <a title=\"coffee machine\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=coffee%20machine&amp;categories=1060&amp;brands=ESPRESSOTORIA%7CLAVAZZA%7CL%27OR%20ESPRESSO&amp;symbols=&amp;sortBy=Popularity_ASC\" target=\"_blank\" rel=\"noopener\">coffee machine<\/a> and upgrading your <a title=\"refrigerator\" href=\"https:\/\/www.cos.net.au\/search?searchTerm=refrigerator\" target=\"_blank\" rel=\"noopener\">refrigerator<\/a> to deal with storage problems or energy can enhance employees\u2019 morale while saving you money.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d7c89d9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d7c89d9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1e4cc9f\" data-id=\"1e4cc9f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d12dd83 elementor-widget elementor-widget-text-editor\" data-id=\"d12dd83\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Being prepared for the End of financial year is critical for making the most of your tax return. As tax deductions are designed to make sure businesses can easily claim tax deductions on items and expenses that help their business grow and contribute to the economy. So, now is the time to plan ahead and invest in technology, office supplies, furniture, and kitchen essentials to keep your employees productive and your business running smoothly.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<div class='watch-action'><div class='watch-position align-left'><div class='action-like'><a class='lbg-style3 like-17323 jlk' href='javascript:void(0)' data-task='like' data-post_id='17323' data-nonce='e3ef17697d' rel='nofollow'><img class='wti-pixel' src='https:\/\/www.cos.net.au\/c\/wp-content\/plugins\/wti-like-post\/images\/pixel.gif' title='Did you find this useful?' \/><span class='lc-17323 lc'>+2<\/span><\/a><\/div><div class='action-unlike'><a class='unlbg-style3 unlike-17323 jlk' href='javascript:void(0)' data-task='unlike' data-post_id='17323' data-nonce='e3ef17697d' rel='nofollow'><img class='wti-pixel' src='https:\/\/www.cos.net.au\/c\/wp-content\/plugins\/wti-like-post\/images\/pixel.gif' title='' \/><span class='unlc-17323 unlc'>0<\/span><\/a><\/div> <\/div> <div class='status-17323 status align-left'><\/div><\/div><div class='wti-clear'><\/div>","protected":false},"excerpt":{"rendered":"<p>Somehow, it\u2019s almost that time of year again\u2026..tax time! This year, there\u2019s a great opportunity for you to take advantage of the temporary full expensing scheme, and claim tax deductions on technology, office supplies, furniture, and kitchen essentials. Temporary Full Expensing Scheme The Temporary Full Expensing measure introduced by the Australian Government to help businesses &#8230; <a title=\"What to Buy this EOFY to Maximise your Tax Deductions\" class=\"read-more\" href=\"https:\/\/www.cos.net.au\/c\/cospedia\/what-to-buy-eofy-tax-deductions\" aria-label=\"Read more about What to Buy this EOFY to Maximise your Tax Deductions\">Read more<\/a><\/p>\n","protected":false},"author":6,"featured_media":17324,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,8],"tags":[2237,2244,2238,2241,1384,353,2235,2242,2245,1959,2246,2249,2240,2248,358,821,2243,2236,2239,984,1382],"class_list":["post-17323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cospedia","category-productivity","tag-assests","tag-business-tax-return","tag-business-turnover","tag-claimable-tax-return","tag-employees-wellbeing","tag-end-of-financial-year","tag-eofy-202","tag-ergonomic-furniture","tag-filing-tax-return","tag-health-and-wellbeing","tag-kitchen-upgrade","tag-maximum-return","tag-office-space","tag-productive-employees","tag-small-business","tag-tax-return","tag-tax-return-tips","tag-upgrading-costs","tag-upgrading-furniture","tag-work-life-balance","tag-workspace"],"_links":{"self":[{"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/posts\/17323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/comments?post=17323"}],"version-history":[{"count":31,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/posts\/17323\/revisions"}],"predecessor-version":[{"id":24822,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/posts\/17323\/revisions\/24822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/media\/17324"}],"wp:attachment":[{"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/media?parent=17323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/categories?post=17323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cos.net.au\/c\/wp-json\/wp\/v2\/tags?post=17323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}