While some sectors of the economy is suffering, others are booming, if you’re lucky enough to have a small business in a rapidly growing sector, you may be considering a change from a relatively simple sole trader business structure to a more formal structure such as a company or a trust. Changes such as this are complex with each structure having its own distinct advantages and disadvantages. Before you consider a change, experts should be consulted to avoid costly mistakes which may stymie the success of your business.
Increased super thresholds for 2019-20
Certain superannuation thresholds are set for a small boost from 1 July 2019 thanks to the latest indexation factors published by the Bureau of Statistics.