The Australian Federal Budget is still a strong talking point for most Australians, but now that the dust has settled and all of the big controversial cuts have been discussed, reviewed and debated, we are now hearing about the ‘smaller’ changes that did not make the initial headlines.
Some of these changes, will directly affect a lot of Australian businesses. Two of the most notable benefits being:
There has also been more funding promised for the Small Business and Family Enterprise Ombudsman.
This has been welcomed by small business owners whose savings will be compensated through big business and higher income earners via a deficit levy on earnings of more than $180,000.
Small business earners can arrange to earn less than the $180,000 salary mark in order to avoid the 2 per cent deficit levy through setting up companies and trust funds that can be distributed through beneficiaries which are usually family members.
Setting up a Trust or another company can have many benefits if managed properly. Not only will they serve to distribute the tax but must importantly, it can conserve the business for future generations, which shows longevity in a business plan.
There are many opportunities available for starting or relocating your own business to Australia as well investing in an existing Australia business, there are a number of Business Visa options available including:
If you would like to speak to one of our registered and qualified migration agents about potential business opportunities and Visas to Australia, please contact us today.