Draft legislation was released on 14 March 2012 detailing the reduction in the corporate tax rate for all companies from 30% to 29% for the 2013-14 income year and subsequent income years. The draft legislation provides an earlier start for small business, with the 29% rate applying from 2012-13. A small business is one that passes the small business entity test.
Omega Partners who provide outsourcing services for companies, trusts, partnerships and self managed superannuation funds are abreast of these any many other changes. Discuss with us how we can assist your accounting practice leverage from the benefits of outsourcing.