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  • Eligibility

    To be eligible, you must be carrying on a small business as a sole trader, or have a share of net small business income from a partnership or trust.

    The small business must have an aggregated turnover of less than $5 million for the 2016–17 income year onwards.

    Progressive changes to the small business income tax offset

    Income year

    Aggregated turnover threshold

    Rate of offset

    Maximum offset

    2015–16

    $2m

    5%

    $1,000

    2016–17 to 2019–20

    $5m

    8%

    $1,000

    2020–21

    $5m

    13%

    $1,000

    2021–22 and onwards

    $5m

    16%

    $1,000

    We will work out your offset based on your income tax return. We use your:

    • net small business income you earned as a sole trader
    • share of net small business income from a partnership or trust.

    See also:

      Last modified: 18 Jun 2019QC 49023