News


FEDERAL BUDGET ANNOUNCEMENTS & SMALL BUSINESS

Reduction in the small company tax rate to 28.5%, with mantainence of the 30% franking credit. Non Corporate entities likely to see a flow through discount up to 5% or $1,000

Temporary write off of up to the total cost of $20,000 of any capital asset acquired by small business from 14 May to end of June 2017.

Full write off of a low value pool with less than $20,000 in WDV at 30 June 2015.

An immediate deduction for professional expenses associated with the starting a new business.

CGT Rollover relief for changes to an entity structure.

Changes to the deductions for work related car expenses.

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