Budget 2016: How do I claim new small and medium business tax benefits

Scott Morrison’s focus on small business means a lower tax rate for even more businesses.

What do I get?

1) If you are a registered business, ie. you have an ABN, and your turnover is less than $2 million, your tax rate will drop from 28.5% to 27.5%.

2) If you are a registered business, ie. you have an ABN, and your turnover is between $2 million and $10 million, your tax rate will drop from 30% to 27.5%.

You are also newly eligible for last year’s $20,000 tax break.

Read More

Read More