ABC News: http://www.abc.net.au/news/story-streams/federal-budget-2017/2017-05-09/federal-budget-2017-winners-losers/8505738
The owners of small businesses will enjoy instant tax offsets for another year; a measure the Treasurer says will improve cash flow. Businesses that turn over less than $10 million each year will be able to immediately write off expenditure up to $20,000.
That’s flagged to revert back to $1,000 from July 1, 2018, but there’s a possibility it could be extended again.
However, some small businesses may also be hit with a new foreign worker levy.
Every employee on a temporary work visa will cost a business up to $1,800 each year, while businesses will pay a one-off levy for workers on a permanent skilled visa.