The new financial year will bring some new and very welcome tax breaks for small businesses. From July 1 the 1.5% reduction in tax handed down by the Treasurer in the May 2015 Federal Budget comes into effect for incorporated companies with an annual turnover of less than $2 million per annum. The new tax…

One of the benefits for small business springing from the May 2015 budget handed down by the Federal Government is the proposed expansion of accelerated depreciation on assets from the previous $1000 threshold. The proposal allows small businesses (with an annual turnover of less than $2 million) the opportunity to immediately claim their tax deduction…