SOME IMPORTANT END OF FINANCIAL YEAR INFORMATION FOR SMALL BUSINESS
Income tax cuts, a rise in the minimum wage, updated information on tax deductions and increased superannuation payments are among changes coming into effect on 1 July, says Bruce Billson, the Australian Small Business and Family Enterprise Ombudsman.
“It is essential that small business owners and managers understand these changes,” Mr Billson said.
“Business leaders are responsible for getting this right and should check their payroll and accounting systems have been updated.