From Our Blog

Tax Benefits of Contracting

  •  Immediate tax write-off for small businesses acquiring depreciable assets with an asset value less than $20,000 (turnover less than $2M per year). Ends 30 June 2017
  •  Small business tax rate now a flat 28.5% for companies – tax effective when compared to individual marginal tax rates – eliminates “bracket creep”
  •  Individuals operating as small business (unincorporated) are entitled to a 5% discount on any tax liabilities – up to maximum of $1,000
  •  Small businesses can now write off 100% of upfront structuring costs with setting up an incorporated entity
  •  CGT relief provided to small businesses that change their legal structure from 1 July 2016

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