Belinda has started the newsagency business 3 months ago. She would like to get an advice on the tax benefits available for her new business. The expected business turnover for the financial year ending 30th of June 2019 is $500,000 including GST.

She has purchased the following assets for the business.

Photocopy machine for $5,500 including GST on the 15th of Feb 2019 and was ready to use on the 1st of March 2019.

Motor vehicle purchased on the 1st May 2019 for $68,800 including GST, to be used solely for business purposes.

She wishes to opt for the Small Business Entity (SBE) option but Inder is unsure whether this is the good choice for them and what benefits will become available when choosing the SBE. Advise Belinda and Inder the following.

Eligibility for SBE;

Concessions for trading stock;

Asset pools; and

Capital gains tax concession.

Country of tax is Australia.