Increase the small business entity turnover threshold
In the 2016-17 Budget, the Government announced an increase to the small business entity turnover threshold from $2 million to $10 million from 1 July 2016.
The current $2 million turnover threshold will be retained for access to the small business capital gains tax concessions.
Access to the unincorporated small business tax discount will be limited to entities with turnover less than $5 million.
From 1 July 2016, Business with a turnover of less than $10.0 million will be able to access a range of concessions which are currently only available to business entities with a turnover of less than $2.0 million.
Legislation and supporting material
Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016 was introduced to Parliament on 1 September 2016.
Find out more
Small Business - Increasing the Entity Threshold from $2 million to $10 million.