ETO is received in full when business annual turnover is less than $50,000 ETO is phased out at aggregated turnover of $75,000 ETO eligibility would be restricted if adjusted taxable income exceeds:- - $75,000 for a single individual; or
- $120,000 for a family
Some activity does not automatically mean a taxpayer is in business, so consider first whether you have any assessable income. If you decide you are in business, then this offset will be automatically calculated on a micro business tax return figures.
25th-July-2009 | 