![]() You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products). © Australian Taxation Office for the Commonwealth of Australia From the 201617 income year, the small business income tax offset: increased to 8 per cent, with a limit of 1,000 each year. have a share of net small business income from a partnership or trust. You can claim the small business income tax offset if you either: are a small business sole trader. If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice. Increased small business income tax offset. Make sure you have the information for the right year before making decisions based on that information. Some of the information on this website applies to a specific financial year. If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take. We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations.
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