Tax Changes which affect your business

June 7, 2016 by BELINDA — No Comment

Here is a brief summary of the May 2016 Federal Budget which impacts on small business from 1/7/2016: The small business income tax offset will increase from the current 5% to 8%. It benefits sole traders. The company tax rate will reduce from 28.5% (for 2015/16 financial year with turnover less than $2M) to 27.5% […]

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