Budget 2015-16: Focus on under $2 million and over $1 billion


Tax measures in tonight’s Federal Budget were a step in the right direction for small businesses, The Tax Institute said today. President of The Tax Institute, Stephen Healey, said he welcomed the changes announced to improve cash flow for small businesses with aggregated annual turnover of less than $2 million and assist small businesses to start up and register. “Allowing an immediate deduction for assets costing up to $20,000 as well as a deduction for the professional costs businesses have to pay when starting up will be a significant boost to many small businesses,” Mr Healey ..

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