Spot the errors

[James Millar]

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This is taken straight from current small business web page of Australia’s largest low cost tax factory (the big international brand we all know)

Small businesses can claim:

immediate deduction of assets costing less than $150,000
reduced corporate tax rate of 26% for companies or a 13% discount up to $1,000 for unincorporated businesses
simplified trading stock rules, including choosing not to do a stocktake if you estimate that your trading stock’s value has not changed by more than $5,000 over the year
immediate deductions for certain prepaid business expenses costing less than $1,000
immediate deductions for certain business start-up costs
exemption or reduction on capital gains tax from sale of business, based on ownership period and age
You didn’t follow your dreams to learn about taxes. We did.

Can anyone see any errors on this list?
(yes – you get what you pay for)

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900

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