sme

Small business CGT concession eligibility to tighten

The government announced last year that it intended to tighten the eligibility factors for the CGT concessions that are generally available to small businesses. The CGT concessions are important for qualifying businesses in that they can defer, reduce or remove liability to CGT. Specifically, the proposed amendments (which have been released in exposure draft form)

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Top 5 avoidable tax mistakes small business owners keep making

The whitest lie ever told to aspiring small business owners and entrepreneurs is that hard work guarantees success. Hard work is vital to success, but it’s not the only quotient. Perhaps your clients have listened when starry-eyed blog writers and charismatic airbrushed suits telling them that they can’t lose if they try hard enough. Well,

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Business tax relief package: What’s in it for SMEs?

Parliament has finally passed most of the business tax relief package announced in the last Federal Budget, but with some amendments. The legislation, which has finally passed the Senate, brings into effect the following changes for small business: Progressive cuts to the company tax rate: The tax rate will be progressively reduced to 27.5% from

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How to get an Australian business number (ABN)

It’s not mandatory for a business to have an Australian business number (ABN), but there are a few good reasons why you should. Foremost among them will be that without one, your business will probably feel a whole lot poorer than it should.How to get an Australian business number Other businesses that deal with you

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