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Tax concessions for small business

May 04, 2016

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.

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