General Year-End Tax Planning Strategies

For a comprehensive look at Tax Planning, especially factoring in the impact of COVID-19, we recommend watching Shane's Tax Planning Seminar from 19 May 2020. Click here to watch the recording.

Instant Asset Write-Off COVID-19 Changes

Pre-COVID-19:

  • Asset write-off threshold was $30,000 and included medium-sized businesses with an annual turnover of less than $50 million. 

From 12 March 2020 - 30 June 2020:

  • Instant asset write-off threshold is $150,000.
  • Eligibility range includes businesses with an aggregated turnover of less than $500 million.

From 1 July 2020:

  • The instant asset write-off will only be available for small businesses with a turnover of less than $10 million.
  • Threshold will be $1,000.

Super Fund Intent to Claim Forms

If you want to claim a personal tax deduction for your superannuation contributions, the ATO now requires an “Intent to Claim Form” to be prepared and submitted to your superannuation fund before your tax return is lodged.  You should seek Aintree Group's assistance in completing the form to ensure it is completed correctly. If your superannuation fund is managed by Aintree Group, we will prepare and submit your Intent to Claim Form on your behalf as part of our service.

Lockdown Restrictions Easing in Victoria

Businesses are slowly beginning to open across Victoria. You can find a full list of dates and details on the Victorian Government website.  The following restrictions were lifted from Monday this week:

  • Private and public gatherings increase to a total of 20 people either in a house or outdoors.
  • Weddings increase to 20 people, plus the celebrant and the couple.
  • Both indoor and outdoor funerals increase to 50 people, plus people required to conduct the funeral.
  • Private worship or small religious ceremonies increase to up to 20 people plus people required for the ceremony.
  • Real estate auctions and open house inspections increase to 20 people plus staff.
  • Restaurants, cafes and pubs can open and serve meals for up to 20 patrons per space, but alcohol can only be served with meals.
  • Overnight stays in private residences allowed.
  • Camping and tourist accommodation allowed if there is no use of shared facilities.
  • Beauty therapy, tanning, waxing, nail salons, spas, tattoo parlours, massage parlours to open with up to 20 patrons.
  • Community facilities to open, with no more than 20 people in a single space plus staff. For indoor and outdoor pools there is a limit of 3 people per lane.
  • Galleries, museums, national institutions, historic sites, outdoor amusement parks, drive-in cinemas, zoos and arcades to open with up to 20 patrons per space, while ensuring density limits are applied to the entire venue.
  • Non-contact outdoor sporting activities will increase to 20 people plus the instructor.


In regards to our own office, we are still continuing to provide our full service remotely while we await health advice from official authorities. In the meantime we are making the necessary policy and procedure changes to ensure a safe and realistic return to the office for our staff and clients when it does happen. If you need to get in touch with our office, please email admin@aintreegroup.com.au and someone will get back to you as soon as possible. 


We know that this is a difficult time for everyone, and we are here to support you in whatever way we can, so please, be in touch!