Fast-tracking Tax Cuts for Small and Medium Businesses

Fast-tracking Tax Cuts for Small and Medium Businesses

Fast-tracking Tax Cuts for Small and Medium Businesses

Recently, the Government decided to fast track the confirmed legislated tax cuts to small and medium businesses by bringing them forward 5 years.

The amended tax rate of 25% will take effect in the 2022 income year (as opposed of the 2027 income year based on the previously legislated timeline) for Companies with an aggregated turnover of less than $50 million.

Further to this, the increase in the tax discount to 16% for unincorporated entities will also take effect from the 2022 year.

Here at Aspect Accountants and Advisors we offer a range of services to enable us to be the best assistance to you. These services include:
  • Business Consulting and Coaching,
  • Tax Advice,
  • Accounting and Compliance,
  • Bookkeeping and Management,
  • Self-managed Superannuation Funds.

For any further accounting or business development advice please give us a call and book an appointment at our West Perth accounting office.

P 08 9227 9400
F 08 6323 1111
A 27 Cleaver Street, West Perth, WA 6005