If you’re running a small business, listen up! Here are what we think the 3 most important changes from the 2017 Federal Budget are that you need to know about:
- The test for small businesses has increased from $2Mil turnover to $10Mil turnover. There’s 90,000 of you out there that are going to LOVE THIS!
- The company tax rate for small businesses has been reduced to 27.5%
- Assets worth up to $20,000 are 100% deductible for the 2017 Financial Year and has been extended to include assets purchased in the 2018 Financial Year as well.
A couple of little wins we thought you’d like to hear about!