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  • KK Partners

Small business tax concessions

Businesses that satisfy a turnover threshold may qualify as a small business entity. 

The advantages of being a small business entity include access to a range of tax concessions including:

  • lower tax rates

  • capital allowance concessions

  • trading stock concessions, and

  • FBT and GST concessions. 

Generally, your business would qualify as a “small business entity” if you have, or is likely to have, an aggregated turnover in the current income year of less than $10m. It may also apply if you’ve had an aggregated turnover in the previous income year of less than $10m. 

If you would like to discuss how the small business entity concessions may apply to your business, please contact our office.



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