Image is not available

Winners of the Customer Service Excellence Award

Awarded by Panalitix

Your Partners in Performance

Image is not available

Advice you can trust

When you know your numbers, anything is possible…

Smart accounting starts with Xero

Image is not available
Arrow
Arrow
Slider

A further “turbo boost” to small businesses has seen the annual turnover threshold increase to $10 million. Currently the Government defines small businesses as having an annual turnover threshold of $2 million or less.  This has another intended impact in that with the increase of the small business annual turnover threshold, more businesses will become eligible to apply the $20,000 immediate asset write off / deduction.

The fine tuning didn’t stop there, with an announcement that the lower company tax rate of 27.5% will be progressively introduced to apply to all businesses by 2023-24. And there was more. The green light was given to a clear pathway to a 5% reduction in the corporate tax cut over 10 years. This means that by 2026-27 the company tax rate will be reduced to 25% with the aim of making Australian businesses more internationally competitive.  

The progressive phase in of the reduced company tax rate and application to all companies is viewed as a sensible and realistic way of providing meaningful tax cuts to business whilst working towards a budget surplus.

You could call this a turbo / supercharged engine. It is estimated that this measure would affect up to 870,000 businesses and 3.4 million workers. That could add some serious grunt to the engine room of the economy.

 

 

 

 

Our Mandate

Our mandate is to provide even better service and support, and more importantly deliver excellent performance outcomes for all our clients.

Read more

  • “MKS, Mark Said has been involved in our business for over 18years. What’s apparent about Mark and all his team, is their integrity and honesty; you can trust their advice and judgement. Mark is always accessible and he and his staff genuinely... View More..

    “MKS, Mark Said has been involved in our business for over 18years. What’s apparent about Mark and all his team, is their integrity and honesty; you can trust their advice and judgement. Mark is always accessible and he and his staff genuinely care about our business.
    Nine years ago we restructured, MKS helped us with a new business plan and setting up the new structure. Over the years, as our business has grown, Mark has provided strategies to make sure our bottom line continuously improves. He is also very well connected across industries, with an excellent network of additional suppliers that we can access as our business needs them.”
    For more information on BWS Recruitment: http://www.bwsrecruitment.com.au

    Belinda Wiggins – BWS Recruitment

  • MKS Group provides very good service, they seem to take more care and give more effort than other accounting firms. You can always get onto them which is really important. I started using them about 12 months ago and since then they've helped me... View More..

    MKS Group provides very good service, they seem to take more care and give more effort than other accounting firms. You can always get onto them which is really important. I started using them about 12 months ago and since then they've helped me work out my costings so my company has better efficiencies. They also provide really useful information to help save money on taxes and have a network of professionals for give financial planning information and guidance. They're a great bunch at MKS.
    For more information on Rapid Concrete: http://rapidconcrete.com.au/index.htm

    Cain Rattray – Rapid Concrete

  • Mark and his team at MKS Group are a real asset to my business, in fact I consider them as a part of my team. We’ve been using them for over 7 years and what I appreciate most is that Mark makes me accountable to achieve my business goals. MKS... View More..

    Mark and his team at MKS Group are a real asset to my business, in fact I consider them as a part of my team. We’ve been using them for over 7 years and what I appreciate most is that Mark makes me accountable to achieve my business goals. MKS ensures my business performs with regular meetings and an automated accounting system of XERO Xero so that I have my fingers on the pulse of the finances day-to-day.
    They say knowledge is power. Thanks to the vital advice and training of MKS, I now understand balance sheets, budgeting and cash flow, and can confidently forecast on my P&L in the future. ‘It’s fantastic to have business know-how and confidence.

    For more information on Key Business Advisors – contact: https://keyba.com.au/ show less

    Colin Wilson – Key Business Advisors

Our Partners

©2017 MKS Group