中小型生意2015/16年优惠政策

Broadly, small businesses with an aggregated annual turnover of less than $2 million will be eligible for the following concessions: Small Business Tax Cuts These tax cuts will be available from the 201516 income year. 28.5% Tax Rate for ‘Small’ Companies The Government will reduce the company tax rate from 30% to 28.5% for small companies with an aggregated annual turnover of less than $2 million. Companies with an aggregated annual turnover of $2 million or above will continue to be subject to the current 30% rate on all their taxable income. Importantly, the current maximum franking credit rate for a distribution will remain unchanged at 30% for all companies, maintaining the existing arrangements for investors, such as selffunded retirees. 5% Discount on Tax Payable by Unincorporated Small Businesses Individual taxpayers with business income from an unincorporated business that has an aggregated annual turnover of less than $2 million will be eligible for a small business tax discount. The discount will be 5% of the income tax payable on the business income received from an unincorporated small business entity. The discount will be capped at $1,000 per individual for each income year, and delivered as a tax offset. Immediate Deduction for Professional Expenses The Government will allow businesses to immediately deduct a range of professional expenses associated with starting a new business, such as professional, legal and accounting advice. Currently, some professional costs associated with a new business start-up are deducted over a five year period. This measure will apply from the 201516 income year. CGT Rollover Relief for Changes to Entity Structure From 1 July 2016, small businesses with an aggregated annual turnover of less than $2 million will be allowed to change their legal structure without attracting a CGT liability at that point. CGT rollover relief is currently available for individuals who incorporate but all other entity type changes have the potential to trigger a CGT liability. This measure recognises that new small businesses might choose an initial legal structure that they later find does not suit them when the business becomes more established.