Tax Cut For Small Business

To further assist small businesses during the global financial crisis, the government recently announced a tax cut to the quarterly Pay As You Go (PAYG) instalment. The PAYG reduction will generally only be available to small business entities which have an aggregated turnover of $2 million per annum or less.

For PAYG instalments due on either 21 January 2009 or 28 February 2009, the amount payable will be reduced by 20 per cent.

To find out whether your business is eligible for the tax cut, please contact the Tax Office on 13 28 66.

For more information, please see the Department of Innovation, Industry, Science and Research website.