The 2021-2022 Federal Budget has been announced on 11 May 2021, with a few welcoming measures for small businesses. Here are two main measures that would benefit your business once it becomes law.
Businesses with an aggregated turnover of less than $5 billion will be able to continue to fully expense the cost of new depreciable assets and the cost of improvements to existing eligible assets in the first year of use.
The Treasurer has delivered the Federal Budget 2019 last night (2 April 2019), he has provided some good news to individual taxpayers and small business owners.
It is worth noting that most of the announcements he made in relation to income tax are related to future income years, there are only two announcements that will take into effect immediately. In this article we go through the ones that are affecting the 2019 financial year only.
Every now and then we get asked the question – “I want to hire someone to help with our business so I can have more time growing my business.” But before you put an ad up, or spread the word around, have you considered the following 10 things about finding the right staff, your business financial situation and understand the extra compliance work required?
The Treasurer handed down the Budget 2018/2019 on 8 May 2018. While there are a lot of proposed changes that will potentially affect individuals such as a 7 year Personal income Tax Plan to lower the income tax liabilities for individuals, there is no certainty as to whether they will become law in future. Meanwhile, let’s recap on the ones that are now law, and will affect taxpayers, especially small businesses immediately. The most important of these is the extension of the less than $20,000 immediate asset write off concession to 30 June 2019 for eligible small businesses.
