A win for small business for the last few years is taking advantage of this generous concession. The Carry Back Loss Offset allows your business to receive tax refunds for prior years in certain situations. If the business had tax profits and paid income tax in any year from 2019, then had a year of […]
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Small businesses with turnovers under $50M are entitled to an extra 20% tax deduction on investments in training spending – Any expenses for external training courses delivered to employees by registered training provider are eligible, if spent from 29/3/2022 to 30/6/2024 tax years. There are some restrictions, such as training non employee business owners and […]
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Small businesses with turnovers under $50M are entitled to an extra 20% tax deduction on investments in technology spending – Any expenses to support digital operations and digitising operations, digital media and marketing and cyber security are eligible, if spent in the 2023 and 2022 tax years. For most small businesses that means cloud computing […]
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