Q1 Which of the following is true of the small business entity concessions?

A) The concessions do not apply to primary producers

B) A taxpayer may apply either all or none of the concessions.

Q2 Under the small business entity capital allowances concessions, the deduction in 2017/18 for an asset acquired on 1 April 2018 with an effective life of 5 years at cost of $900 is:

a) $450

B) $900

Q3 Which of the following is correct in relation to the simplified depreciation rules under the small business entity concession?

a) the balance of the general small business pool is written off at 15%

B) None of the answers are correct