SmartCompany, September 5,
The federal government is seeking to bring tax cuts aimed at Australia’s small and medium businesses into effect four years earlier than originally planned, costing the government $3.6 billion over four-year forward estimates.
|Treasury costings leaked to Fairfax reportedly reveal the government has decided to adopt industry calls to bring forward the already legislated tax cuts for companies with under $50 million in annual turnover, which would see them fully implemented by 2022 rather than 2026. The documents also reveal it’s considering extending the popular $20,000 instant asset write-off threshold. READ MORE: https://www.smartcompany.com.au/finance/tax/government-bring-forward-small-business-tax-cuts-change-instant-asset-write-off/?utm_campaign=SC&utm_medium=email&utm_source=newsletter