Companies with a turnover of up to $50 million a year will receive a tax cut, applicable to this financial year, taking the rate down from 30% to 27.5%. Small business gets a step-up The tax cut will be staggered, with an immediate cut in 2016-17 for companies with an annual turnover up to […]
By James Harkness SMEs with revenues up to $50 million will have their tax rates cut after the Federal Government struck a deal with the Nick Xenophon Team (NXT) in the Senate on Friday. Under the deal, which will cost $5.2 billion over the next four years, the tax rate for businesses with turnovers up […]
By James Harkness Coinciding with the anticipated release of the Small Business Ombudsman’s report on its inquiry into payment times and practices, American Express has released research showing mid-sized Australian businesses owe $8 billion in outstanding payments to suppliers, with more than $2 billion currently overdue. According to Martin Seward, VP, Small & Medium Enterprises at […]
A debt to a business that is unpaid and deemed to be a “bad” debt can be an allowable deduction as long as it was included as assessable income in the present or even a previous income year, and that it is written off as “uncollectable” in the same year that a deduction is […]
By Yanir Yakutiel The numbers are in and the news isn’t great for Australian small business owners. The latest research by East & Partners shows more than half of SMBs cite cash flow as a major barrier to growth (56%). Less than one in ten are content with their cash flow and around three-quarters of […]
By: James Harkness Copyright reforms tabled in Parliament, this week, exclude a ‘best practice’ mechanism that would have protected young companies against online infringement, according to Australia’s peak advocacy group for start-ups. The Copyright Amendment (Disability Access and Other Measures) Bill 2017 was introduced into the House of Representatives on Wednesday by Minister for Urban Infrastructure, Paul Fletcher, who […]
By: Clayton Howes I’ll be honest: the reality of being an entrepreneur is far removed from the fantasy of sleeping in and days spent working from the couch between yoga classes and coffee breaks. In fact, sometimes the experience can feel akin to one constant panic attack – especially in the early years. Late nights, anxious mornings, […]
By: Deborah Wood A small business is more than a bottom line for an owner; it is often their heart, soul and passion. By taking the plunge and setting up and running a small business, all your time and energy becomes focused on making your life’s dream a success. However, with all of your energy […]
Getting your own venture off the ground is a huge achievement. The next challenge is streamlining your business so you can maximise profits, and free up time to focus on the things that matter. ANZ can help you be Business Ready with a suite of tools and checklists. Tried and tested tips and templates […]
By: Dinushi Dias Founders should take a work-in-progress approach to getting their venture off the ground, according to one Sydney entrepreneur whose startup hit $1 million in revenue within two months. Sydney-founded Workfast is an online platform enabling businesses to hire workers at short notice around Australia. Two months after launching in September 2016, it topped […]
