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  • Eligibility



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    You are eligible to be a small business entity for an income year if:

    • you carry on a business in that year, and
    • you have an aggregated turnover of less than $2 million.

    Similarly to the previous grouping rules that existed under the former STS, the new aggregation rules use the concepts of 'connected with' (which is based on control) and 'affiliates' to determine whether the turnover of any related businesses need to be included in the aggregated turnover of your business.

    It is not necessary to specifically elect to be an eligible small business each year in order to access the concessions. However, you must assess your eligibility for the concessions each year.

    Last modified: 14 Jul 2020QC 27915