Thu, 27th Feb 2025

In this episode of the Weekly Finance News Wrap, Paige Estritori discusses a significant tax reform proposal by the Coalition. The proposal, aimed at small businesses with a turnover of up to $10 million, seeks to simplify tax deductions related to business meals. If approved, businesses would be able to deduct up to $20,000 without a fringe benefits tax. This could lead to a reduction in compliance challenges and an increase in workplace morale. As businesses anticipate these potential tax changes, Estritori stresses the importance of keeping thorough records. Tune in to learn how these changes in the Australian finance sector could influence your business and visit Financial Services Online for more finance-related resources. Stay informed, and remember, knowledge remains your best armour.n