small business

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)

[ Read More ] site tool helps small business find the right advice

Need help with starting or growing your business? The government’s small business website hosts a free online tool to help businesses find government advisory services in their local area. The site has a section called “Expertise & Advice”, which has been designed primarily for start-ups and those new to the small business arena. The

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Your small business clients can use simpler trading stock rules

Your small business clients can use simpler trading stock rules. If your client operates a small business entity and at the end of the income year estimates that their trading stock’s value has not changed by more than $5,000, it may pay to remind them (especially if they are new to business) that they can

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Using the small business benchmarks

The ATO has a database of “small business benchmarks” against which it compares lodged information. But business owners can also benefit by using the small business benchmarks to compare their own performance. Using small business benchmarks It says the small business benchmarks: are calculated from income tax returns and activity statements from more than 1.3 million

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