Looks like the Turnbull Government have secured passing of last year's budget measures to reduce the company tax rate. Most relevant here is the 2017 year sub $10m 27.5% rate (down from 28.5% and previously 30%). This rate will be further reduced all the way down to 25% over ten years.
People commence their own business for many reasons – they’re sick of their job or have been let go, they have a passion for something and want to make it more than a hobby, they want the flexibility of being their own boss or they think they can make more money applying their skills as a business owner rather than as an employee.
As we noted above, obtaining a quote from just an initial conversation from your prospective accountant may not be as simple as you hoped. As with most goods and services, there is generally a trade-off between price and the service (and quality of that service) that you receive. As they say “Price is what you pay, value is what you get.”
Unfortunately choosing the right accountant for your business isn’t as easy as jumping on Google and typing “good accountant Melbourne” or looking at a firm’s Facebook page! However, with a small amount of research and asking a few pertinent questions, you should greatly improve the prospects of engaging the right accountant for your business.