The Federal Budget Proposals 2016 vs Businesses


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