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The rise and rise of self-employment

Thursday, May 28, 2015

The Australian union movement has this week been debating its future. It’s worried. Its membership in the private sector is plunging below 14 per cent of the workforce (less than 17 per cent overall). It’s frantic that new disruptive technologies such as Uber, job networking, crowd-sourced funding and more will create an explosion in self-employment. It is horrified that people will become their own bosses!  More...

Budget response: ALP announces small business policy

Friday, May 15, 2015

Yesterday we sent out a summary of, and commentary on, the Abbott government’s Budget policy initiatives for small business people. We’ve given the package a big tick. It’s essentially a tax-reduction approach to encouraging small business activity. We think that’s the most effective way to go.

Last night the Labor opposition supported the package, which means it will pass the Senate. Labor leader Bill Shorten also announced an aspiration to reduce small business tax by 5 per cent.  More...

It’s a small business tax cut budget. But beware the ATO

Thursday, May 14, 2015

This week’s Budget has received wide praise, principally because it’s a ‘small business people budget’. And it deserves praise on this front. Ken Phillips' analysis in Business Spectator explains that it’s a list of seemingly small items that make for one big package for small business people.

The Budget repeats last week’s announcement for start-ups which included: More...

Some small business, common sense, pre-Budget moves

Wednesday, May 06, 2015

It came as something of a revelation that if you started a new small business, the professional costs of setting it up—that is, lawyers, accountants, marketing advisers and so on—could not immediately be declared as business tax deductions. No wonder people get angry with the tax system. Just when business expenses bleed money from the start up, the government screws the business.

Well, thankfully, this is to change. In a pre-budget announcement from Treasurer Hockey and Small Business Minister Billson, these expenses will be claimable immediately.  It’s about time we saw some common (tax) sense! More...

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