The Australian Financial Review --- Page: 18 : 17 May 2008 No author supplied for original article
LexisNexis Summary
Planning can create opportunities for a small family business to reduce its taxes. It is worth considering the Small Business Entity (SBE) regime, which was introduced on 1 July 2007. Companies with an annual turnover of under $A2 million that are held to be carrying on a business qualify for the SBE tax concessions. The regime does not require companies to "lock in" their selection of concessions. It is possible under SBE to take advantage of Australia's small business capital gains tax concessions without meeting the $A6 million maximum net asset test
