Small Business

tax

Half a dozen ways into audit hell

Got a rental property that you let your family and friends use? Fan of claiming work train rides on your tax return? Well the Australian Tax Office is going to be taking an extra close look at you this year.

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JB Hi-Fi sales spike on small biz tax breaks

The energetic types manning the cash registers at electronics retailer JB Hi-Fi, haven't had much time to think about the big-picture trends such as the 'internet of things' in the past few weeks.

Janey Francis and Tracey McDonald have updated their office thanks to the tax breaks in the recent federal budget.

Tax break transforms this office

Meet the business owners who have jumped at the chance to take advantage of tax incentives for smaller businesses announced in this year's federal budget.

Debra Anderson has been telling clients not to expect a cheque from the ATO.

Talking to the professionals

In the aftermath of the federal budget, what advice are small businesses seeking from their accountants to make the most of proposed changes to tax rules?

Wesfarmers managing director Richard Goyder says it doesn't want excess capacity coming into markets.

Wesfarmers waiting for sustained boost in confidence

Wesfarmers managing director Richard Goyder welcomed a bounce in consumer sentiment after the budget but says there would have to a sustained improvement in spending before Australia's largest private-sector employer ramped up expansion plans.

ILLUSTRATION BY SAM BENNETT - SMART MONEY - AFR - 16 MAY 15 - AVOID THE SQUEEZE - BUDGET - TAX - PUZZLE - MONEY - CASH

The $20,000 trap

What's the one thing that could mean a business expense doesn't qualify for the new tax depreciation rules?

The concept of the day job is part of the semantics of career biography.

Small business cash makes big gain with voters

The federal government's small business measures have gone over extremely well with voters according to the Fairfax-Ipsos poll which found 81 per cent back the move to give a 100 per cent instant asset write off on all new equipment purchases below $20,000, and the abolition of fringe benefits tax on additional mobile phones, tablets and laptops.

Opposition Leader Bill Shorten.

Shorten offers an olive branch over company tax for small business

Bill Shorten has proposed working with the Abbott government to dramatically reduce the rate of company tax for small businesses, dropping it from its current rate of 30 cents in the dollar to the 28.5 proposed by the government and then down to 25 cents after that.

Treasurer Joe Hockey says: 'Cars and vans, kitchens or machinery ... anything under $20,000 is immediately 100 per cent ...

Small business gets $5b to 'have a go'

Small businesses will be able to claim any asset under $20,000 in their tax return and get a credit of up to $1,000, under a $5.5 billion package to help entrepreneurs 'have a go'.

Treasurer Joe Hockey delivers his post-budget address to the National Press Club on Wednesday.

Hockey's growth message is spend, spend, spend

A reinvigorated Joe Hockey has again implored businesses and consumers to flash their credit cards in a bid to jump-start stubbornly flatlining consumer and business confidence, arguing his everyone-is-a-winner budget has set the conditions for optimism and growth.