Tax Cuts for Small Business

Good news for your business: "To further assist small businesses during the global financial crisis, the government recently announced a tax cut to the quarterly Pay As You Go (PAYG) instalment. The PAYG reduction will generally only be available to small business entities which have an aggregated turnover of $2 million per annum or less.

For PAYG instalments due on either 21 January 2009 or 28 February 2009, the amount payable will be reduced by 20 per cent."

Any reduction in the amount of tax paid by a small business is good and this announcement before Xmas on Dec 17th was a good Xmas present. See the ATO website for more information.

theBizWiz

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