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(PDF) Small Business Taxation

   

Added on  2021-05-30

16 Pages902 Words27 ViewsType: 27
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Taxation LawSmall Business Concession
(PDF) Small Business Taxation_1

Introduction: Small business forms the sizeable share of Australia. Small business contributes greater $1.4 trillion in the form of revenue for the Australian government. Small business tax system was bought into the action with the objective of providing the small business an options of measuring the tax Small business simplifies the measures of tax by simultaneously lowering the cost of tax compliance.
(PDF) Small Business Taxation_2

Types of small Business Concessions: 50% reduction in the active assetsExemptions associated to retirement 15 year exemptionsExemptions of rollover
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CRITERIA FOR MEETING THE ELIGIBILITY OF CONCESSIONS: Fulfilling the test of Net Asset ValueFulfilling the criteria of active assetWhere the assets are as shares in company or unit in the trust
(PDF) Small Business Taxation_4

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