Simplified Tax System for Small Business.

 How would you like to stop doing stock-takes, depreciate just about all your plant at 30%, and bid farewell to accruals accounting? If your average turnover is less than $1 million, read on...

Want to simplify your business tax? Average turnover less than $1 million and depreciable assets less than $3 million! That's the key to whole deal!

Simplified Taxation System taxpayers account for their ordinary income when received and general deductions when paid.

Depreciation at 30%(estimated life less than 25 years), 5% (estimated life more than 25 years) or full deduction if less than $1,000. Sound good? Take a dip in this pool!

No need to do a stock-take, (or a cost of goods sold calculation taking into account opening and closing stock) if your estimate of the difference between opening and closing stock is less than $5,000

apprentice tax practitioner program | tax law