Income Tax Assessment Act 1997

Subdiv 960-Q repealed by No 80 of 2007 , s 3 and Sch 8 item 2, applicable in relation to the 2007-08 income year and later income years.

Subdiv 960-Q inserted by No 164 of 1999.

S 960-335 repealed by No 80 of 2007 , s 3 and Sch 8 item 2, applicable in relation to the 2007-08 income year and later income years. S 960-335 formerly read:

SECTION 960-335 Meaning of small business taxpayer  
960-335
You are a small business taxpayer for an income year if:

(a) you carry on a *business in that year; and

(b) either:

(i) your *average turnover for that year is less than $1,000,000; or

(ii) you choose to recalculate that turnover for an income year before the 2001-02 income year under section 960-350 and it is less than $1,000,000 as recalculated.

Note:

You are treated as carrying on a business if you are winding up a business and you were previously a small business taxpayer: see section 960-355 .

S 960-335 inserted by No 164 of 1999.