Did you know there are tax concessions available that can help your small business grow? Find out which ones you can use and when they start so you can benefit.
Contact AusBiz Solutions on 02 6583 5327 to discuss how our Proven Business Solutions That Work can take the worry out of your tax, and let you invest more time in what you do best.
Some concessions for small businesses include:
instant write-off for each asset costing less than $20,000
immediate deduction of professional expenses for starting your business
a tax discount of 5% (up to $1,000) for unincorporated small businesses
a 1.5% cut to the small business company tax rate
no fringe benefits tax for providing multiple electronic devices to employees
no income tax liability for asset roll-overs when restructuring your business
accelerated depreciation for primary producers.
You can qualify for the first six concessions if your small business has a total turnover of less than $2 million either in the year you use the concession or the year before that. However, all primary producers can access accelerated depreciation regardless of turnover.
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