The 2019 budget brought many wins for the nation’s small business owners, including an increase to the instant asset write-off, investment into an apprenticeship scheme, increased infrastructure spending and a $60 million injection into the export market. Yet industry experts and small business advocates suggest more could be done to ease the burden on Australia’s… Read more »
As we approach the release of the 2019-20 federal budget on April 2, it’s worth noting that the proposals unveiled will be just that: proposals. Some will hit snags in Parliament, some may be rewritten, and some could be scrapped if government changes hands. With that caveat in mind, here are some bills from the… Read more »
Australia’s small businesses may see some relief this financial year with Treasurer Scott Morrison announcing the extension of the $20,000 instant asset write-off in the 2018-19 Federal Budget. The write-off was slated to end this financial year, however, it has now been extended until June 30, 2019. The instant asset write-off allows businesses to claim… Read more »
Startups are calling for the government to provide more support for innovation ahead of the 2018 budget announcement. Liven co-founder David Ballerini has called out the Turnbull government for failing to deliver on its promise of an innovation nation, suggesting the PM has failed to walk the talk. Ballerini expects if history is anything to… Read more »
Industry experts are suggesting personal tax cuts are likely to be a centrepiece of the Federal Budget, but the question of how exactly they’ll be funded is still anyone’s guess. Tax Consultant to Thomson Reuters, Terry Hayes, suggested the government has very little wriggle room if it wants to hit its target of returning to… Read more »
If you’re expecting major reforms from this year’s budget, the experts at Thomson Reuters suggest you might be out of luck. Here are their tips for what SMEs can expect. According to Thomson Reuters’ Senior Tax Writer, Ian Murray-Jones, the Turnbull government has switched its focus from delivering major reforms to short-term wins as it… Read more »
This year’s Federal Budget is providing some positive support for business by extending the instant asset write-off and implementing the first phase of the 10-year Enterprise Tax Plan. Importantly, the Government is also proposing significant initiatives across infrastructure and health which are designed to create “more and better paid jobs” across all markets. Overall however… Read more »
The Federal Budget 2017-2018 is looming and will be revealed 7.30pm (AEST) on Tuesday 9 May 2017. In the meantime, many small business owners are left wondering what the outcome will mean for them? According to new research from MYOB, almost half of Australian small businesses aren’t confident the Budget will work in their favour. Small business owners were… Read more »
It’s a great start to the new year for (bigger) small businesses. Around the country small businesses could be given another 12 months to cash in on the government’s $20,000 instant asset write-off scheme that was initially introduced in mid-2015. Former Federal Treasurer Joe Hockey introduced a tax initiative where small businesses could write-off $20,000… Read more »
The latest SME Snapshot survey by MYOB has found support for certain measures in the 2016 Federal Budget.
The budget measures, which come into effect on 1 July this year, mean business owners need to start planning what needs to change about their tax strategies.
One way to take advantage of these small business budget sweeteners is to use them on digital technologies to help your small business grow.