Budget 2017-18 is Good News for Small Business

Earlier this week Treasurer Scott Morrison delivered the 2017-2018 Federal Budget to Parliament. There’s lots of good news for small businesses. The government proposes to extend the $20,000 instant asset write-off scheme from 1 July this year, allowing small businesses to immediately write off assets costing less than $20,000, rather than making deductions over several years. The government has committed to lowering the tax rate for small business, with 90,000 extra businesses to enter a lower tax bracket. The Budget also sees the establishment of a $300 million fund to reward state level governments that remove unnecessary regulation on small business. The aim is to reduce red tape. This is an exciting time to own a small business in Australia. Contact us at First Choice Business Brokers on 9899-1888, for all the help you need to secure a great business opportunity.