Small businesses are welcoming tax relief in the budget as they navigate the economic hit stemming from the coronavirus pandemic.
Small and medium businesses can benefit from a 12 million dollar injection to help others make the online transition.
Key other announcements include an extension of the instant asset write-off until 2023 – allowing businesses to claims deductions up front, rather than by depreciation.
Small and medium business owners will also benefit from about $16 billion in tax cuts by 2023 to 2024.
And a drop in the small and medium business company tax rate from 27.5% to 25% coming into effect from July the 1st.
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