• Small business concessions

    If you operate a business with an aggregated annual turnover of less than $2 million, you may be eligible for a range of concessions to help reduce your taxable income.

    Aggregated annual turnover means the total normal sales of your business and that of any associated businesses during the income year.

    Small business concessions include:

    • CGT concessions
    • simpler trading stock rules
    • simpler depreciation rules
    • immediate deductions for prepaid expenses.

    See also:

    Last modified: 13 Mar 2015QC 44452