| This year’s federal budget has a few sweeteners, but not so much that will turn anyone hyperactive. The welcome news is that the turnover threshold for classifying a “small business entity” will increase from $2 million to $10 million. The devil however is in the detail. |
| Disappointingly, the current $2 million turnover threshold will be retained for access to the highly valuable small business CGT concessions, while access to the small business discount for unincorporated businesses will be limited to a $5 million turnover threshold. This will undoubtedly create an administrative headache, but be assured that we are here to help you manage this. |
| Please contact us for clarification, or further advice, regarding any of the topics covered in this budget newsletter. |