In addition to small business owners receiving an income tax benefit from the extension of the deadline for claiming assets costing up to $20,000 from June 30, 2018, until June 30, 2019, and also benefiting from the new low and middle-income tax offset, there was a new policy that could result in some small business owners losing a tax deduction for payments to employees and contractors.
Read the full article at the Sydney Morning Herald.
