Are you the owner of a small business?
Did you know you could be eligible for tax concessions benefits?
Concessions for small business include:
• Instant tax write-off for each asset costing less than $20,000 for small businesses.
• Accelerated depreciation for primary producers.
• Immediate deduction of professional expenses for small business start-ups.
• Tax offset of 5 per cent up to $1,000 for unincorporated small businesses.
• 1.5 per cent small business company tax cut.
• No fringe benefits tax for providing multiple electronic devices to small business employees.
• No income tax liability for asset rollovers when a small business is restructured.
To find out if you are eligible click here.