The Federal Budget Proposals 2016 vs Businesses

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The Federal Budget Proposals vs Businesses

Key Budget Proposals:

If you have ownership in a company

 

From 1 July 2016:  The small business entity turnover threshold will increase to $10 million (from $2 million) for an incorporated entity, allowing eligible businesses to access the lower company tax rate of 27.5%.

 

The Government will progressively reduce the company tax rate to 25 per cent over 10 years.

 

Note: This is not a complete list of all the budget proposals