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08 Oct 2020 Small Business Measures

Increase the small business entity turnover threshold

The Government has announced that it will increase the small business entity threshold from $10m to $50m per annum for certain concessions. This measure is not yet law and subject to the passage of legislation.

Read more here

ATO information about the JobKeeper Payment scheme for sole traders

The ATO has advised sole traders may be eligible for the JobKeeper payment under the business participation entitlement if their business has experienced a decline in turnover according to the eligibility criteria.

Read more here.

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