Taxation of small business entities
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Taxation of small business entities

Issued by The Tax Institute

The earner has demonstrated an understanding of the meaning of small business entities (SBEs) and the simplified and concessionary tax treatments available to entities classified as SBEs. Earners determine eligibility for and apply the small business capital gains tax (CGT) concessions that provide relief on capital gains made by small businesses.

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Skills

  • Aggregated Turnover
  • FBT Concessions
  • GST Concessions
  • PAYG Installment Concessions
  • SBE Capital Allowance Rules
  • Simplified Trading Stock
  • Small Business Entities
  • Small business income tax offset
  • Small Business Restructure Rollover
  • Taxation of Small Business Entities

Earning Criteria

  • Determine if a tax entity is eligible to access the SBE concessions.
  • Advise an SBE taxpayer on the income tax concessions available in the Income Tax Assessment Act 1997.
  • Earners complete 10 hours of online, self-paced, interactive learning, incorporating interactive examples, knowledge checks, case studies and a comprehensive activity.
  • Successful completion of an online, multiple choice assessment.

Standards

Advanced level