Smartcompany News and Analysis: New tax break for small biz: How it works and why experts aren’t happy, Five gems from Buffett’s investor meeting, Funding Palmer’s big ideas.
The Federal Budget might still be one sleep away, but Treasurer Wayne Swan has delivered an early present by unveiling a new tax break that will allow companies with less than $2 million revenue to offset losses against profits made in previous years. Today we explain how the new tax breaks works, get the experts’ reaction and in Entrepreneur Watch , explain why some of the devil is in the detail. Elsewhere, we extract five pearls from Warren Buffett’s annual investor meeting, uncover the companies that will be paying the carbon tax (do you deal with any of them?) and look at how Clive Palmer has the time and money to fund his awfully big ideas. News Government unveils new loss carry-back tax break, but experts warn most small businesses not eligible ACCC warns construction industry on cartel behaviour How the new loss carry-back tax break works: A SmartCompany Q&A Further rate cuts to prop up business confidence, survey reveals Retailers look to B