Treasurer Scott Morrison has handed down his thrid Federal Budget and it contains a series of measures to assist small business to grow, invest and employ.
Many have pointed out that this is ultimately an election year budget, with the Government focusing on selling a 'low taxing' budget message though the redirection of a modest upside in revenues to personal income tax relief.
2018/19 Budget Highlights:
"Haslam’s innovative fixed fee arrangement provides our businesses with tremendous benefits. Giving us certainty what our accounting fees will be each month. Gone are the days of being scared to ring our accountant for fear of the huge bill arriving after the event." Greg Watson, CEO Realway Property Consultants Australia
Phone: 1300 427 526
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Another year, another Federal Budget! This year brings a lot for small businesses to enjoy, including an extension of the $20,000 instant asset write-off scheme.
Of course, there’s a lot to prepare for. Personal tax cuts mean businesses need to get their payroll in order and there are some key changes to how the R&D offsets work.
So let’s dive into each topic. What are the key takeaways in the 2018–19 Federal Budget for your business?
2FA (Two-Factor Authentication or Two-Step Authentication) is coming to all Australian accounting software by the end of 2018.