Budget 2015: Tax breaks aim to give a flying start-up | The Australian

The small business tax package aims to boost innovation and the ability of entrepreneurs to start new enterprises, with revamped employee share schemes and widened access to equity funding.

Start-ups will be allowed to immediately deduct professional expenses incurred when they start a business, such as legal expenses, rather than writing them off after five years. The move is designed to boost cashflow.

The government will also establish a single online registration site, and is promising to make it easier for private companies to crowd-source equity funding.
The small business package also relaxes the tax treatment of employee share schemes.

Source: Budget 2015: Tax breaks aim to give a flying start-up | The Australian

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