With the end of the 2016 financial year fast approaching, don’t forget that small businesses can immediately deduct the business portion of most (new or second-hand) assets if they cost less than $20,000. Among the various continued tax initiatives, 2015/16 sees the introduction of the 28.5% company tax rate. Speak to your accountant for more information and if you haven’t already, now is the time to review your business performance, prepare for your potential tax liability, and effectively manage and minimise your tax where possible. Use one of the CPA checklists to get you started.
To see how financing can help you get the deductions this financial year, see our preferred financing supplier for special member deals within the member benefits page of the membership portal. Membership portal