Small Business entity threshold jumps to $10 million
In a significant win for business, the 2016/17 Federal Budget proposes to increase the small business entity turnover threshold from $2 million to $10 million from 1 July 2016. The reform will give a greater number of businesses access to a range of tax concessions such as: The lower small business corporate tax rate (27.5%); Simplified depreciation rules including immediate…read more →