deductions you are entitled to claim and any farm management deposits.your business income and any farm management repayments.If you are a sole trader, you need details of: Information you need before using the calculator minor beneficiary (you are under 18 years old and not an excepted person).You cannot use this calculator if you are a: If you are a sole trader, find out what to include in your net small business income. Work out if you are a small business for the income year. beneficiary of a trust that is a small business entity.partner in a partnership that is a small business entity.sole trader that is a small business entity.This calculator will not calculate your offset amount. Along with other information you provided in your tax return, we then calculate your small business income tax offset. This calculator works out the amount you need to enter at 'Net small business income' on your tax return. The small business income tax offset can reduce the tax payable on your small business income by up to $1,000 per year. Information you need before using the calculator.Use this calculator to complete the small business income tax offset questions in your tax return. Small business income tax offset calculator
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