Small businesses are set to benefit from wide-ranging changes to tax concessions. The changes are a boon for small business, says Mark Morris, CPA Australia’s senior tax counsel. “Small businesses can obtain significant benefits by being able to write off any depreciating assets costing less than $1,000, and by pooling assets over $1,000 and depreciating […]
While staff incentive schemes are effective, Michael Derin says first you should consider the tax implications of your new staff retention plan. With unemployment at its lowest in 33 years, it has become a challenge for businesses, particularly SMEs, to attract and retain effective and productive employees. One way of doing this is by offering […]
Exporting is a complicated business, especially with different tax traps waiting in every country. The most common mistakes include failing to protect Australian assets, lack of compliance with local country tax rules, and entering into an arrangement with an unreliable local agent, says Merv Burton, William Buck tax services director. “Many businesses are not aware […]
Whether it’s the end of the financial year, or not, you can always take some time out to reduce your tax liabilities. Take a look at this checklist to see how you can reduce your tax. Pay expenses before 30 June to get any tax deductions this year If payments for liabilities are made on […]
The changes to superannuation over the past two years have created an exciting opportunity for SME owners. Even if you’re nowhere near retirement age, you now have the ability to use superannuation to grow your business, control premises and provide for a comfortable retirement all at the same time. Recent changes relevant to SMEs, in regards […]
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