Finance

Despite the in-person meetings in China, Senator Farrell said it would take time for trade relations to return to normal.

Let’s be clear: there is nothing like a story involving a global brand, a scandal and questions about why a firm went like PwC used confidential information.

Should the bill not pass before June 30 this year, small businesses which upgraded their technology in 2022-2023 on the expectation of a generous tax break will go into the new financial year without legislation underpinning their 'bonus' deductions.

The 2023-2024 federal budget halves a scheduled 12% tax instalment increase to 6%, a move the federal government says will improve small business cashflow.

Small businesses should be going back to basics and understanding a few tax measures that are ending and working out the best course of action for their business.

Small businesses need a sustainable tax system that will encourage investment and generate economic growth.

The RBA’s latest forecasts now assume no further rate rises will be needed for inflation to fall back to the central bank’s 2-3% target range by mid-2025.

A ramped-up instant asset write-off scheme will offer small businesses tax breaks on eligible purchases over the next financial year, averting fears the scheme would drop to cover purchases of just $1,000.

The launch of Pet Circle Insurance follows the company’s Series C $125 million funding round in late 2021, which catapulted Pet Circle to unicorn status.

The Australian Taxation Office will offer an amnesty to small businesses which have fallen behind on their payments.

Cash flow support for small businesses will come through a halving of the adjustment factor applied to Pay As You Go (PAYG) and GST instalments.

The instant asset write-off threshold will temporarily rise to $20,000, giving small businesses another chance to invest in their operations and immediately deduct the full cost of depreciable expenses from their tax bill.