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Federal Government’s Small Business Tax Breaks Benefits Brokers

June 16, 2015

In the May Federal budget, the government decided to pass the tax breaks onto small businesses. Brokers are the one that are most benefited with this decision.

In an announcement Treasurer Joe Hockey said that the government’s Jobs and Small Business package passed through the parliament this week. So from now all small businesses can immediately deduct every asset costing less than $20,000 that they have purchased since Budget night and can continue to do so until the end of June 2017.

Also, all the small companies that are having a turnover less than $2 million will benefit from a 1.5% tax cut from 1 July 2015. According to Hockey, “The passing of these measures means that the tax rate to small businesses is the lowest it has been since 1967.

In his statement, he added, “It is clear that they feel energised by the small business measures in our Budget and has given them the confidence to carefully invest in growing their business”.

The government is putting its full efforts to make Australia the very best place to start and grow a small business. Our Jobs and Small Business package is creating the right conditions for Australian businesses to thrive and grow.

As with all these things business investments will start to grow more and more, the brokers will get maxim benefits from this proposal.

Mortgage Choice CEO John Flavell praised the announcement, saying it will be a big win for the finance industry.

He said, “This stream of tax breaks and incentives will help small businesses to grow and flourish. It will give small business owners the opportunity to reinvest in their businesses and take their companies to the next level”.

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