As announced in the budget, and assuming that it will pass parliament, the $20,000 tax advantage for any small business (which I also discussed on my previous blog post) is now extended until June 2018, plus it is also extended to businesses turning over up to 10 million.

This is great news and once again gives small to medium business owners a benefit.

I will be using this business tax advantage again next year. I suggest you speak to your accountant and work out the best way of using this benefit this financial year and next.