Small businesses can access a range of concessions including payment and reporting options. This applies to sole traders, partnerships, companies or trusts.  Accessing these concessions can give your business much needed taxation and administrative relief.

To qualify for these concessions, you'll need to determine if your business is a 'small business entity' for the income year. You must review your eligibility each year.

Some of the concessions available include:

1.         Income tax concessions
2.         Capital Gains Tax Concessions
3.         PAYG Instalment Concessions
4.         FBT Concessions
5.         Super Concessions
6.         GST and excise concessions

Please Refer Section 328 – 10 Income Tax Assessment Act 1997, Concessions available to small business entities

If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com