Small Business Income Tax Offset

At a glance

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Provides unincorporated small businesses with a tax offset of up to $1,000 per year.

Who can apply:

At a minimum, you must:

  • be carrying on a small business as a sole trader, or have a share of net small business income from a partnership or trust
  • have an aggregated turnover of less than $5 million for the 2016-17 income year onwards

Other eligibility criteria may apply.

Contact information:

13 28 66

General enquiry form

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Overview

The Small Business Income Tax Offset provides small businesses with a tax offset of up to $1,000 per year. The offset is worked out on the proportion of tax payable on your business income.

The Australian Taxation Office (ATO) will work out the amount of your offset based on your business income.

Eligibility criteria

To be eligible, you must:

  • be carrying on a small business as a sole trader, or have a share of net small business income from a partnership or trust
  • have an aggregated turnover of less than $5 million for the 2016-17 income year onwards

Find out more information about the eligibility criteria at Small Business Income Tax Offset.

How to apply

There is no application required. The Australian Taxation Office will work out your offset when you lodge your tax for the relevant year.

Find out more at Small Business Income Tax Offset.

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