Changes to the Entrepreneurs' Tax Offset
Changes have been made to include an additional income test for the ETO (Entrepreneurs' Tax Offset). This test is now included to further restrict access to the ETO for taxpayers with alternative sources of income...
The ETO provides a 25 per cent tax offset for small businesses with annual turnover of less than $75,000, which begins to phase out for turnover greater than $50,000.
A family income test will now apply by restricting eligibility for singles from $70,000 and families from $120,000 adjusted taxable income per year.
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