The government’s tax cuts have passed through the Senate without amendment. From next week low-and-middle income earners with an income up to $126,000 will receive up to $1080 or $2160 for dual-income couples in annual tax cuts, with the tax relief to apply from the 2018-2019 period. In a joint statement to the press, the… Read more »
Peter Strong, the CEO of the Council of Small Business Organisations Australia (COSBOA) has congratulated Scott Morrison for his appointment as the new Prime Minister (elect) of Australia. Strong took time out to thank the outgoing PM, Malcolm Turnbull for his leadership of the county and welcomed the appointment of Morrison who is well known… 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 »
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 »
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The Budget outlines the most significant structural changes to the Australian superannuation system since compulsory superannuation was first introduced.
From July 1, small to medium-sized businesses with revenue of up to $10 million dollars will qualify for a company tax rate of 27.5%.