Small Business Turnover Increase

3rd May 2018 |

2017 tax year is the first year the small businesses turnover threshold increases from $2 Million to $10 Million.

This means that more businesses are able to access various tax concessions such as:

  • Reduced company tax rate·
  • Simplified Depreciation Method
  • Immediate Write off for assets less than $20,000
  • Increased small business income tax offset for Sole Trader