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Budget 2016: Small business tax rate slashed by 2.5 per cent

The small business tax rate will be cut to 27.5 per cent from 1 July and capture operators with a turnover of up to $10 million, which will hand up to 60,000 companies a 2.5 per cent break.

Budget 2016: Small business tax rate slashed by 2.5 per cent
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  • Shared by The Australian and Accountancy Age
  • May 04, 2016
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The move is accompanied by a more ambitious plan to broaden access to the lower 27.5 per cent tax rate to larger companies with a turnover of up to $100m by 2019-20, with the higher threshold phased in over the next four years.

Read the full story at The Australian.

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