MGI Perth

A low key tax ruling will have dramatic implications for thousands of small business owners.

Small business owners are in for a shock. They are going to pay extra tax on their profits on top of the 30 per cent corporate rate, even where they haven't paid themselves a dividend out of their business.

While everyone's attention was focussed on that other profits-based tax, this change in small business tax policy has been overlooked. Most small business pwners wouldn't even be aware of it yet and the tax profession has been scrambling to come to terms with it in the last month or so. It's big.

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