A key component of the Federal Budget is the Government's $5.5 billion small business package.
It contains a number of initiatives that aim to positively impact small businesses, and in particular, start-up businesses.
These include:
- a 1.5% cut to the company tax rate for small businesses, reducing it to 28.5%;
- a single online registration site to streamline new business registrations;
- changes to upfront deductions for professional start-up expenses, including legal fees;
- beneficial changes to employee share schemes; and
- the removal of obstacles to crowd-sourced equity funding.
Read more about these key announcements here...
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.