Small business entities have access to a range of tax concessions. Broadly, you are a small business entity if you carry on a business and have an aggregated turnover of less than $2 million.
If you are a small business entity for the relevant year, you can choose to access the small business concessions that suit your business. However, you may also have to satisfy other conditions that apply to a particular concession. You will have to review your eligibility for the concessions each tax year.