Small Business Concessions Reminder

Small Business Concessions Reminder

In a recent update, the Australian Taxation Office (ATO) has highlighted the various tax concessions available to small business owners. These concessions offer opportunities for eligible businesses to reduce their tax liabilities. 

The eligibility for each concession depends on factors such as your business’s annual turnover, structure and industry. 

Here’s a breakdown of the concessions your business may be eligible for: 

  • Small Business Capital Gains Tax (GCT) Concession 

Businesses with a total annual income of less than $2 million could benefit, offering the opportunity to reduce the amount of capital gains tax owed when selling specific business assets such as property, equipment or shares. 

  • Small Business Income Tax Offset

Businesses with a total annual income of less than $5 million could be eligible. This offset reduces the amount of tax payable and offers potential financial relief to small businesses by allowing them to retain more earnings for investment and growth.

  • Small Business Restructure Roll-over

Businesses with an annual income of less than $10 million may qualify to deter taxes when transferring assets within a business group. This concession offers flexibility for businesses undergoing organisational restructuring by allowing them to delay tax payments associated with asset transfers. 

If you think your business is eligible, the ATO emphasises the importance of assessing your eligibility annually and including accurate records that date back at least five years to support your application. 

These concessions have the potential to bring significant advantages to your business.

If you need help navigating which concession your business could be eligible for, contact us at 1800 618 800 or via email at

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