PM Planning Small Business Tax Cuts
Are you a small to medium business owner? Annual turnover of less than $50m? Here's some promising news at last.
The Prime Minister Scott Morrison continues his plan to fast track another 2.5% of tax cuts for small and medium businesses. The original plan was to take effect in 2026-27, but the PM recently announced his pledge to have it in place by 2021-22.
2.5% may not seem much, but that additional profit can be reinvested back into the business or aid in cash flow or even tax liabilities.
Whether it’s a small tax cut or a smart reduction in expenses, every dollar counts, including costs often associated with a professional accountant or bookkeeper. ITP Queensland prides itself with affordable business bookkeeping packages starting from only $35/week. The packages are designed for sole traders, partnerships, trusts or companies that come with a professional, compliant service and affordable weekly fee. Promise yourself to take a look today, it might be the savings cut you’re looking for.