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The small business income tax offset - Tax Store Clayton
The small business income tax offset (also known as the unincorporated small business tax discount) can reduce the tax a sole trader business pays by up to $1,000 each year. The offset is worked out on the proportion of tax payable on business income.
Small businesses need to get “active” to pay less tax - Tax Accountants Chatswood
For small business owners who are disposing of assets that have risen in value during the time they have owned and used them in their business, accessing one or more of the available small business capital gains tax (CGT) concessions can greatly reduce any consequent tax liability.
Keeping busy — but is it just a hobby, or are you in business? - Tax Accountants Carrum Downs
It is important to understand the differences between a hobby and a business for tax, insurance and legal purposes among other things. For one thing, there will be certain tax and other obligations that start once you are in business.