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As expected, several of the Small Business Measures announced in the May Budget have passed both Houses of Parliament.

Specifically:

  • the reduction in the company tax rate for business entities with an aggregated turnover of less than $2,000,000. Click here for further information. This is waiting royal assent.
  • the immediate deduction of assets costing less than $20,000 for businesses with a turnover of less than $2,000,00.  However, we strongly recommend that you contact our office prior to making any purchases to ascertain if this will be of benefit in your personal circumstances. Click here for further information. This has received royal assent and is now law.

Any questions, please contact your accountant.

General Advice

The information provided by Bentleys (Sunshine Coast) Pty Ltd does not constitute financial product advice and is for general information only. It is written without taking into account any individuals personal objectives, situation or needs, and is not intended as professional advice. Any person acting upon such information without receiving specific advice, does so entirely at their own risk. Please contact your Accountant to discuss your personal situation before relying on this information.