Small business income tax offset calculator

The Small business income tax offset can reduce the tax payable on your small business income by up to $1000 per year.

What this calculator does

This calculator works out the amount you need to enter at 'Net small business income' on your tax return. We then calculate your small business income tax offset using this amount. This calculator will not calculate your offset amount.

Who can use this calculator

Use this calculator if you are an individual who is a:

• sole trader that is a small business entity
• partner in a partnership that is a small business entity
• beneficiary of a trust that is a small business entity.

See also:

• Are you a small business for the current year?

Who cannot use this calculator

You cannot use this calculator if you are a:

• partnership or a trust
• trustee on behalf of a beneficiary
• minor beneficiary (you are under 18 years old and not an excepted person).

Information you need before using the calculator

If you are a sole trader, you will need details of:

• your business income as well as any farm management repayments
• deductions you are entitled to claim as well as any farm management deposits
• losses you have shown in your income tax return.

If you are a partner or beneficiary you will need details of:

• your share of net small business income from your distribution statement
• deductions you are entitled to claim against your share of net small business income as well as any farm management deposits
• details of any farm management repayments or other amounts included in your income because you were a partner or beneficiary.

Help using the calculator

For guidance when answering the calculator questions, you can:

• click on the Help button at the top right-hand corner of the screen
• hover over the '?' at the end of a question.

See also:

• Small business income tax offset

Using the calculator

The calculator should take 5–10 minutes to complete.

Information you provide in the calculator is not stored on our systems. However, any answers you enter into myTax will be recorded as part of your income tax return.

You can save or print your calculator results for your personal records.

See also:

• Lodging your tax return online

If you are using myTax

Your offset amount will be included in your estimated tax refund or tax payable amount, but will not be shown separately.

If you are entitled to the Small business income tax offset, it will be shown separately on your Notice of assessment.