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...
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