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Small business entity concessions - home
  
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Small businesses have access to a range of tax concessions. This information will help you work out if you are a small business for an income year and what concessions you may be eligible for. You must review your eligibility each year.
What you need to know
Overview
Eligibility
Income tax concessions
Excise concession
Capital gains tax (CGT) concessions
Goods and services tax (GST) concessions
PAYG instalment concessions
Fringe benefit tax (FBT) concessions
News
Changes in 2012-13
In detail
Eligibility for small business entity concessions
Income tax concessions
Capital gains tax (CGT) concessions
Goods and services tax (GST)
15-year exemption - capital gains tax concession for small business
This concession may exempt a capital gain from a business asset that you have owned for at least 15 years.
50% active asset reduction - capital gains tax concession for small business
This concession allows you to reduce the capital gain arising from a business asset (an active asset) by 50%.
Advanced guide to capital gains tax concessions for small business 2011-12
This guide provides detailed information about the capital gains tax (CGT) concessions available to small business and is current for the 2011-12 income year. NAT 3359.
Capital gains tax (CGT) concessions for small business - more changes for the 2007-09 years
Explains the changes to the CGT small business concessions resulting from amendments enacted in June 2009. The changes have various start dates.
Capital gains tax (CGT) concessions for small business - overview
Information about the CGT concessions available to small business. This information is current for the 2008-09 and later years.
CGT small business concessions tool
This tool will help tax agents to determine if an entity satisfies the basic conditions and is eligible for the capital gains tax (CGT) concessions that are available for small business.
Changes to the capital gains tax (CGT) concessions for small business 2007-08
This fact sheet explains the changes to the CGT small business concessions for the 2007-08 and later income years.
Comparison of changes to small business CGT concessions since 2006
Compares the changes in the law for the 2006-07, 2007-08 and 2008-09 years.
Concessions for small business entities - overview
Information about the concessions available to small business entities. NAT 71398.
Guide to capital gains tax concessions for small business 2011 -12
This guide provides general information about the capital gains tax (CGT) concessions available for small business and is current for the 2011-12 income year. NAT 8384.
Retirement exemption - capital gains tax concession for small business
This concession can exempt a capital gain on a business asset, up to a lifetime limit of $500,000. The retirement exemption allows you to provide for your retirement, but you don't need to be retiring or retired to benefit.
Roll over - capital gains tax concession for small business
This concession allows you to defer a capital gain from the disposal of a business asset for two years. You can defer the capital gain for longer than two years if you acquire a replacement asset or make a capital improvement to an existing asset.
Am I eligible for the small business entity concessions?
This will help you work out if you are eligible for the small business entity concessions. This will help you work out if you are eligible for the small business entity concessions.
What are the aggregation rules?
Information about the aggregation rules and how they apply to the small business entity concessions. NAT 71874.
What are the small business concessions?
Explains the small business concessions.
Capital gains tax concessions
Understand and check your eligibility for the four capital gains tax (CGT) concessions.
Cash and non-cash accounting
Explains the cash basis and non-cash (accruals) basis of accounting for GST and when to pay GST and claim GST credits.
GST and annual private apportionment
This fact sheet explains how eligible taxpayers can account for the private portion of their business purchases on an annual basis rather than in every activity statement. NAT 12877.
GST instalments
This fact sheet contains information for primary producers and special professionals about options for reporting and paying GST, including the option to pay GST by instalments. (NAT 4238).
Eligibility
How to work out if your business is generally eligible for the small business entity concessions.
Excise concession
Check whether you are eligible to report and pay excise monthly rather than weekly.
Fringe benefit concessions
You may be exempt from fringe benefits tax (FBT) on car parking benefits you provide.
Goods and services tax concessions
Understand and check your eligibility for the three goods and service tax (GST) concessions.
Income tax concessions
Understand and check your eligibility for the six income tax concessions.
Income tax concessions for small business entities - overview
Provides small businesses with information about small busienss tax concessions.s.
Review of your assessment and record keeping
Outlines the periods in which the ATO can review and amend your tax return, and how long you are required to keep your tax records.
Simplified trading stock rules
If you are a small business entity you may be able to use the simplified trading stock rules. This information applies from 1 July 2007.
PAYG instalment concessions
If you report and pay PAYG instalments quarterly, you can choose to pay instalment amounts we work out for you.
Small business concessions: changes to simpler depreciation rules apply from 2012-13
Information regarding the small business changes to depreciation rules from 2012-13.
Small business concessions: removal of the entrepreneur's tax offset from 2012-13
The entrepreneur's tax offset has been abolished from 2012-13 income year.
15-year exemption - capital gains tax concession for small business
This concession may exempt a capital gain from a business asset that you have owned for at least 15 years.
50% active asset reduction - capital gains tax concession for small business
This concession allows you to reduce the capital gain arising from a business asset (an active asset) by 50%.
Advanced guide to capital gains tax concessions for small business 2011-12
This guide provides detailed information about the capital gains tax (CGT) concessions available to small business and is current for the 2011-12 income year. NAT 3359.
Am I eligible for the small business entity concessions?
This will help you work out if you are eligible for the small business entity concessions. This will help you work out if you are eligible for the small business entity concessions.
Capital gains tax (CGT) concessions for small business - more changes for the 2007-09 years
Explains the changes to the CGT small business concessions resulting from amendments enacted in June 2009. The changes have various start dates.
Capital gains tax (CGT) concessions for small business - overview
Information about the CGT concessions available to small business. This information is current for the 2008-09 and later years.
Capital gains tax concessions
Understand and check your eligibility for the four capital gains tax (CGT) concessions.
Cash and non-cash accounting
Explains the cash basis and non-cash (accruals) basis of accounting for GST and when to pay GST and claim GST credits.
CGT small business concessions tool
This tool will help tax agents to determine if an entity satisfies the basic conditions and is eligible for the capital gains tax (CGT) concessions that are available for small business.
Changes to the capital gains tax (CGT) concessions for small business 2007-08
This fact sheet explains the changes to the CGT small business concessions for the 2007-08 and later income years.
Comparison of changes to small business CGT concessions since 2006
Compares the changes in the law for the 2006-07, 2007-08 and 2008-09 years.
Concessions for small business entities - overview
Information about the concessions available to small business entities. NAT 71398.
Eligibility
How to work out if your business is generally eligible for the small business entity concessions.
Excise concession
Check whether you are eligible to report and pay excise monthly rather than weekly.
Fringe benefit concessions
You may be exempt from fringe benefits tax (FBT) on car parking benefits you provide.
Goods and services tax concessions
Understand and check your eligibility for the three goods and service tax (GST) concessions.
GST and annual private apportionment
This fact sheet explains how eligible taxpayers can account for the private portion of their business purchases on an annual basis rather than in every activity statement. NAT 12877.
GST instalments
This fact sheet contains information for primary producers and special professionals about options for reporting and paying GST, including the option to pay GST by instalments. (NAT 4238).
Guide to capital gains tax concessions for small business 2011 -12
This guide provides general information about the capital gains tax (CGT) concessions available for small business and is current for the 2011-12 income year. NAT 8384.
Income tax concessions
Understand and check your eligibility for the six income tax concessions.
Income tax concessions for small business entities - overview
Provides small businesses with information about small busienss tax concessions.s.
PAYG instalment concessions
If you report and pay PAYG instalments quarterly, you can choose to pay instalment amounts we work out for you.
Retirement exemption - capital gains tax concession for small business
This concession can exempt a capital gain on a business asset, up to a lifetime limit of $500,000. The retirement exemption allows you to provide for your retirement, but you don't need to be retiring or retired to benefit.
Review of your assessment and record keeping
Outlines the periods in which the ATO can review and amend your tax return, and how long you are required to keep your tax records.
Roll over - capital gains tax concession for small business
This concession allows you to defer a capital gain from the disposal of a business asset for two years. You can defer the capital gain for longer than two years if you acquire a replacement asset or make a capital improvement to an existing asset.
Simplified trading stock rules
If you are a small business entity you may be able to use the simplified trading stock rules. This information applies from 1 July 2007.
Small business concessions: changes to simpler depreciation rules apply from 2012-13
Information regarding the small business changes to depreciation rules from 2012-13.
Small business concessions: removal of the entrepreneur's tax offset from 2012-13
The entrepreneur's tax offset has been abolished from 2012-13 income year.
Small business entity concessions overview
The types of concessions small businesses with an annual turnover less than $2 million may be able to access.
What are the aggregation rules?
Information about the aggregation rules and how they apply to the small business entity concessions. NAT 71874.
What are the small business concessions?
Explains the small business concessions.
Small business entity concessions overview
The types of concessions small businesses with an annual turnover less than $2 million may be able to access.
  
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