This year's federal budget in many ways lived up to its hype. It was mostly a dull and boring affair - but there were some surprises.
Small business owners have plenty to smile about. The 1.5% tax rate cut has been confirmed, but it's also been extended to owners of unincorporated small businesses.
Small Businesses also get an immediate deduction for individual assets costing less than $20,000.
As always, please feel free to Alan on 0419 671 602 for further details and information.
Cheers
Jodie Beck
Individuals
Personal tax rates
Personal tax rates will not change, and the 2% Temporary Budget Deficit Levy for taxable incomes over $180,000 will not be extended. The budget confirmed that the levy will, as expected, cease at the end of the 2016-17 income year.....Read More
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