The continuation of the $20,000 instant tax write-off for small businesses will come as little surprise: the Treasurer had been hinting heavily at this in his pre-Budget briefings. However, the announcement that businesses with an annual turnover of less than $10 million can claim up to $20,000 worth of depreciating assets each financial year, is […]
Businesses that employ foreign workers will be subject to a new levy that will be used bankroll a fund for training Australian job seekers, the Government announced in the Federal Budget. From March 2018, businesses will be subject to a levy of $1200 per foreign worker or $1800 if they’re on a temporary skilled visa. In […]
Businesses with an annual turnover of up to $10 million will benefit from the $20,000 instant asset tax write-off scheme for a further 12 months, the Government announced in the Federal Budget. The extension has generally been welcomed, although there have been calls to make the measure permanent and increase the write-off threshold to benefit more businesses. […]
Owing to unnecessary paperwork and data entry duplication, the launch of Luscheyne Mellon’s first venture with Andy Giles was a drawn out, time-consuming task. Although it was a frustrating experience for the business partners, it sparked the idea for their sophomore business, which launched in October, last year. Based in Surry Hills, Sydney, Veromo is […]
Australian SMEs and start-ups are increasingly taking advantage of the changing global economy and importing goods that may not be available locally or can be produced at a cheaper price overseas. While importing can be an excellent way to grow your business and keep production costs to a minimum, it is important for SMEs to […]
Senator Eric Abetz has recommended the federal government return small business to the cabinet and place the portfolio in the hands of Liberals. In an address to the Young Liberal Federal Convention, last weekend, the former minister warned that “too much red tape, too much taxation and oppressive regulations” barred small businesses from fulfilling their […]
Choosing a business structure is, well, tricky business. If you are thinking of starting a business, you should first weigh up the pros and cons of each business structure to figure out which one best suits your needs. This is an important step that shouldn’t be overlooked because it affects many aspects of your business […]
With the launch of its second co-investment fund, this month, Sydney Angels is seeking to raise between $10 and 20 million to invest in high-growth potential early-stage ventures. Sidecar Fund 2 follows the first Sidecar Fund, which Sydney Angels launched in 2012. Sidecar Fund 1 attracted $10 million in capital from outside investors, to invest […]
Starting your own business is an exciting venture, but your entrepreneurial dreams can quickly turn into a nightmare if you fail to consider critical legal issues. Start-ups and small businesses make legal mistakes all the time – some of which can be disastrous. By covering six of the most common mistakes made by business owners, this article […]
Businesses with 19 or fewer employees have less than two weeks to transition to SuperStream – the new, mandatory electronic standard for paying superannuation contributions. “The Australian Taxation Office (ATO) is pleased that more than 75 per cent of small businesses are already SuperStream compliant however, there is still a way to go to ensure […]
