Small business tax concessions at a glance

The ATO has prepared a table that is available on their website which sets out at a glance all the tax concessions that may be available to small businesses. These include:

  • simplified depreciation rules (eg the instant asset write-off, accelerated depreciation for primary producers);
  • eligibility for the lower company tax rate;
  • PAYG instalment concessions;
  • simplified trading stock rules;
  • simpler BAS;
  • accounting for GST on a cash basis; and
  • the various small business CGT concessions.

Burns Sieber will be able to assist you to work out which of these concessions your small business may be entitled to.