Support for Small Business Made EasyBY ARA
The Australian Government is committed to supporting small business owners achieve their goals and recognise the diverse challenges of running a small business.
To make it easier to find the right support for individual businesses, the Australian Government has created a helpful tool that filters relevant and localised support for small business owners.
Support available to all small businesses across Australia includes; business advice, how to maximise relevant tax cuts and how to reduce red tape – as detailed below.
The Australian Small Business Advisory Service (ASBAS) provides low-cost advisory and information services on funding avenues and financial analysis; how to build a business; human resources; management capabilities and digital engagement.
Until 30 June 2018, a business with a turnover less than $10 million can reduce their tax burden by purchasing, and deducting immediately in full from their income; business items such as computers or technical equipment that cost less than $20,000 each.
Less Red Tape
Business activity statements (BAS) are never fun; simplified GST seeks to make book-keeping and reporting requirements that bit easier. And paying employees their super can also be a task bound in red tape. But for businesses with less than 19 employees, or those with an aggregated turnover of less than $10 million, a single electronic payment to the Small Business Superannuation Clearing House will enable direct payment to each employees choice of super fund. Just another way Government is supporting small business to reduce red tape.
Use the Australian Government filter tool to discover more relevant and local support for small businesses; www.business.gov.au/smallbusiness
ABOUT THE AUTHOR
Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association representing Australia’s $310 billion sector, which employs more than 1.2 million people. As the retail industry’s peak representative body, the ARA works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.