SMALL Business Tips

SMALL Business Tips

Small business owners has many tax benefits, examples

  1. Business start-up costs immediate deductions.
  2. Claim certain prepaid expenses costing less than $1000.00
  3. Simplified trading stock rules
  4. Exemption and reduction on capital gain from sale of business, subject to ownership period and age.
  5. Reduced corporate tax rate to 26%
  6. Assets costing less than $150000 can claim in full [Temporary Full expensing can claim your deduction when lodging your 2020–21 and 2021–22 tax returns.

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