Practice Update – March 2026
Lowe Lippmann announcement
Lowe Lippmann is absolutely thrilled to share some incredible news with all of you!
We are delighted to announce that our very own Danny Lustig has been awarded the prestigious
Medal of Order of Australia (OAM) – General Division. This honor is a testament to his exceptional services in the areas of community, sport, and accountancy.
Danny's dedication to giving back and helping others has truly set him apart, and his selfless efforts have been recognized on a national level. This remarkable achievement is a reflection of not only his hard work and commitment but also his unwavering passion for making a positive impact on those around him.
Please join us in congratulating Danny on this amazing accomplishment.
$20,000 instant asset write-off extended
The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026.
Taxpayers should note that if their business has an aggregated annual turnover of less than $10 million, they may be able to use the instant asset write-off (IAWO) to immediately deduct the business portion of the cost of eligible assets which cost less than $20,000.
Eligible assets must basically have been first used (or installed ready for use) between 1 July 2025 and 30 June 2026. The $20,000 limit applies on a per asset basis, so taxpayers can instantly write-off multiple assets.
The IAWO can be used for both new and second-hand assets (but some exclusions and limits apply).
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Please do not hesitate to contact your Lowe Lippmann Relationship Partner if you wish to discuss any of these matters further.
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