Big news for small business

"Here’s how your business can benefit from the $20,000 small business tax deduction. Brisbane small businesses have welcomed news that they are able to claim immediate tax deductions for all purchases up to $20,000 from now until 30 June 2017. In the past, small businesses have had to claim these purchases as deductions spread over many years. The deduction is available to businesses with an annual turnover under $2 million. The deduction is a significant increase from the current instant asset write-off threshold of $1,000." Read more

Bmag 17 June 2015