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Category Archives: Business Taxation
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Small business company tax rate cut
July 1st, 2015Parliament has passed legislation which will implement a 2015 Budget measure to reduce the company tax rate from 30% to 28.5% for companies that are small business entities with an aggregated turnover of less than $2 million. The company tax rate for corporate unit trusts...
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Accelerated depreciation write-off for SMEs
July 1st, 2015Legislative amendments to implement a 2015 Budget measure to support small businesses have made their way through Parliament. The legislative amendments will allow a short-term accelerated depreciation write-off up to $20,000 (up from the $1,000 threshold) for assets acquired by small businesses. The increased threshold...
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Small business can now write off assets under $20,000
July 9th, 2015An eligible small business can claim an immediate deduction for any software costing less than $20,000, purchased off the shelf,that is used exclusively in the business. An eligible small business can also claim an immediate deduction for the cost of developing software for use exclusively...
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Aggressive R&D claims under scrutiny
June 12th, 2015The ATO and AusIndustry are working closely with each other to identify taxpayers who may be involved in aggressive research and development (R&D) arrangements. In particular, the ATO and AusIndustry are seeking arrangements that are inconsistent with the requirements of the law, may have features...
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R&D tax incentive rate reduction back in spotlight
July 15th, 2015In the 2015 Budget, the Government reiterated its intention to change the rates of assistance under the R&D tax incentive to 43.5% (down from 45%) for eligible entities with a turnover under $20 million per annum and not controlled by a tax exempt entity, and...
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