The federal government detailed new legislation in July 2023 for small businesses seeking energy efficiency upgrades. The Small Business Energy Incentive offers a 20% tax deduction on these upgrades, valued at up to $100,000.
The federal government detailed new legislation in July 2023 for small businesses seeking energy efficiency upgrades. The Small Business Energy Incentive offers a 20% tax deduction on these upgrades, valued at up to $100,000.
A reminder to all business owners, the next super guarantee payment is due 28 October. This payment is for superannuation accrued by employees in the July – September quarter.
The Technology Investment Boost, initially announced in the last federal budget in March and enacted into law just before the 30 June expenditure deadline, grants small businesses with a turnover of less than $50 million a 20 percent bonus deduction on technology-related expenses that support their digital operations and digitisation efforts.
Nearly 40% of Australians believe they will not have enough funds to retire comfortably. With pressures due to cost of living increases, it is likely we will see this number continue to grow.
Australians continue to rank poorly in financial literacy, with just over a quarter of people struggling to answer a set of simple questions on the basics, such as interest rates, inflation and investment risks and returns.