Growing Charlotte's Café
Charlotte has an idea for a new café.
With Budget 2015...
- Business registration is streamlined
- Immediate deductibility of professional expenses associated with starting up the business
- Able to immediately write off each and every asset costing less than $20,000 she buys for her café – tables, chairs, coffee machine, fridge
- A 5 per cent tax discount on her business income (as an unincorporated business with annual turnover of less than $2 million)
- Moves from being a sole trader to a trust – gets CGT rollover relief so no CGT liability at that time
- Access support through jobactive to find the right staff quickly
- Brings in a local teenager, Paul, for work experience, then gets a wage subsidy as Paul settles into the business