Here are the main points of the 2018 Budget in regards to Business Income Tax:
- The Small Business $20,000 immediate write-off will remain until at least 30 Jun 2019;
- The Research and Development Tax Incentives for companies with more than $20m turnover will be reduced
So the $20k write off will continue for a while longer! Talk to your accountant to see how you can take advantage of that (or call us).