Business Information for small business
We’ve been eagerly awaiting Abbot’s 2015 budget, and with over 300,000 small businesses operating in the building and construction industry, more than in any other industry, we’ve definitely come out on top this year.
Small businesses, defined as businesses with a turnover of less than $2 million, took center stage as the Abbot government unveiled a $5.5 billion package that will help to invest in and grow operations.
Business purchases of less than $20,000 will be immediately tax deductible (with no limit to how many purchases can be made), in such a capital intensive industry, this will have an immediate impact on freeing up cash flow to spend money elsewhere.
The tax rate has been cut by 1.5%, down to 28.5% - this will not only have a positive impact on profits, but it will also give confidence to consumers, spurring on economic activity resulting in more business coming in the door.
Connect directly with trusted and rated tradies
From this budget, it’s clear that the government is relying on you guys to be the creators of jobs and innovation for the next 10 years. As you create new jobs in your businesses, be sure to post them on www.ConXjobs.com and get directly connected with suitable, available tradies looking for work throughout Australia.