Key points: The instant asset write-off allows businesses to claim deductions upfront, rather than through depreciation Businesses have already been taking advantage of the scheme to scale up and meet increased demand The budget also includes tax breaks for gaming companies and microbreweries and distillers Temporary full expensing – The temporary investment tax incentive announced…
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At some point in the life of your business, it will benefit you to move from being a sole trader to a company setup. Ben Fletcher explains what to consider before making the move. 1. Tax People assume that by operating via a company structure they’ll pay less tax than continuing as a sole trader.…
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Article by Michael Todd, Business Advisor, Western Sydney Business Centre No matter what stage you are in after starting up your business, finding the time to work on your longer term strategy and actually growing your business is one of the most common challenges for small business owners. But if you want to grow your…
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The Federal Court has ordered that Safety Compliance Pty Ltd (Safety Compliance) pay penalties totaling $515,000 for making false or misleading representations to small businesses in connection with the supply of safety wall charts and first aid kits. In her judgment, Justice Farrell stated that Safety Compliance’s business model was “a systematic and deliberate scam…
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