Australian Treasurer Josh Frydenberg has issued a joint release on the reduction of the corporate tax rate to 26% for businesses with turnover of less than AUD 50 million with effect from 1 July 2020.
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Small business tax cuts kick in from July 1 2020
From July 1 2020, small and family businesses will be paying less tax as a result of legislated tax cuts passed by the Morrison Government.
As the 2020-2021 financial year begins, incorporated small and family businesses with a turnover …