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Small Business Entity (SBE) Tax Concessions

 

More businesses are now eligible for most small business tax concessions.

From 1 July 2016, a range of small business tax concessions became available to all businesses with turnover less than $10 million (the turnover threshold). Previously the turnover threshold was $2 million.

Tax_Year Aggregated Turnover Threshold
2015-16 and earlier $2 million
2016-17 $10 million
2017-18 $25 million
2018-19 and later $50 million

To see what small business tax concessions are available to you, see Concessions.

The $10 million turnover threshold applies to most concessions, except for:

  • the small business income tax offset, which has a $5 million turnover threshold from 1 July 2016
  • capital gains tax (CGT) concessions, which continue to have a $2 million turnover threshold.

The turnover threshold for fringe benefits tax (FBT) concessions increased to $10 million from 1 April 2017.

As a small business you can access a range of concessions.

When we say 'small business' we mean 'small business entity'.

Find out about:

Businesses with a turnover of up to $10 million can also claim a deduction for each asset purchased and first used or installed ready for use, up to the following thresholds:

  • $20,000 before 29 January 2019
  • $25,000 from 29 January 2019 until before 7:30pm (AEDT) on 2 April 2019
  • $30,000 from 7:30pm (AEDT) on 2 April 2019 until 11 March 2020
  • $150,000 from 12 March 2020 until 31 December 2020
  • Temporary full expensing from 7:30pm AEDT on 6 October 2020 until 30 June 2022

 
 
         

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