Australia: Opposition against the federal government’s scrapping of tax break

The federal government of Australia will roll back the tax break that was extended to small businesses from January 1 onwards. Earlier, the small businesses were allowed a $6,500 instant asset write-off which will now be brought down to $1,000 only.

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The news has been confirmed by Small Business Minister Bruce Billson’s office to which the opposition has responded to the development by calling it a “tax trap” for small business citing the fact that the decision has not yet been passed in the parliament. The so-called tax break was extended in relation to the mining tax.


Source: Businessspectator,

Published by Bhavesh Kumar

A multi-talented professional with diverse experience spanning across Advanced statistical analysis,Python programming with NumPy, pandas, matplotlib, Seaborn, Tableau, Machine Learning with stats models and scikit-learn, Deep learning with TensorFlow, journalism (digital and broadcast), management consultancy and documentary filmmaking. Worked for the leading international news agencies on feature stories, videography, scripting, programming and editing broadcast news. A creative and analytical mindset focused on executing new-age strategic communication initiatives with all its corresponding elements (clear and coherently written key messages, marketing strategy and predictive analytics) to ensure effective target audience impressions. Also, worked on several primary and secondary market research projects (Market Feasibility Study) for businesses looking for actionable insights.

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