2016/17 Federal Budget Highlights Background
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2016/17 Federal Budget Highlights

- 03 May 2016

The Federal Treasurer, Mr Scott Morrison, handed down his first budget.

One of the Budget measures is to increase the small business entity turnover threshold from $2m to $10m from 1 July 2016 for the purposes of accessing certain existing income tax concessions.

However, the increased threshold will not apply for the purposes of accessing existing small business capital gains tax concessions.