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012-030 - Turnover Under $75,000 - Specific Taxation Issues

The Australian Taxation Laws contain specific provisions which relate to the turnover of the business taxpayer. This paper concentrates on business taxpayers with turnovers under $75,000. The paper analyses particular benefits available for micro-businesses which, for ease of reference, are summari ...Read more
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  • Description
  • Specifications

The Australian Taxation Laws contain specific provisions which relate to the turnover of the business taxpayer. This paper concentrates on business taxpayers with turnovers under $75,000.

The paper analyses particular benefits available for micro-businesses which, for ease of reference, are summarised in one paper. The paper is presented in four pages, under the headings:

  • Turnover Levels Determine Treatment
  • Australian Business Number
  • GST Registration Optional
  • Invoice
  • Hobby Or Not For Profit Activity
  • Registered For GST
  • Streamlined Reporting Of GST
  • Instalment Option
  • Write Off Of GST Related Equipment & Software
  • Under $2m Turnover Issues
  • Entrepreneur's Tax Offset

and includes as an Addendum a suggested statement to be issued by a supplier if the supplier does not have an Australian Business Number and does not wish to have 46.5% withholding tax withheld.