Commonwealth Consolidated Acts Commonwealth Consolidated ActsYou may be entitled to a tax offset if you are an individual:
(a) who is a small business entity; or
(b) whose assessable income includes a share of the net small business income of an unincorporated small business entity; or
(c) whose assessable income includes an amount because you are a partner in a partnership, or a beneficiary in a trust, that is a small business entity.
In working out whether you are or another entity is a small business entity, a special $5 million turnover threshold applies (see section 328 - 357).
Table of sections
Operative provisions
328 - 355 Entitlement to the small business income tax offset
328 - 357 Special meaning of small business entity for the purposes of this Subdivision--$5 million turnover threshold
328 - 360 Amount of your tax offset
328 - 365 Net small business income
328 - 370 Relevant attributable deductions
328 - 375 Modification if you are under 18 years old