Small businesses are the backbone of the Australian economy, accounting for more than 98% of all businesses in Australia. Thankfully, the Australian Taxation Office (the ATO) offers these small businesses several tax incentives as a result – and one of the most significant of those incentives is the small business pool simplified depreciation rule.
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A lot of business owners get discouraged when they find they hit a brick wall when it comes to growing their business. However, having patience, persistence and a belief in the process is key in success. It’s not necessarily about fixing something or making major changes, but just staying the course and being at the right place at the right time.
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