Treasury Laws Amendment (Enterprise Tax Plan) Act 2017 (41 of 2017)

Schedule 3   Access to small business concessions, etc.

Part 1   Amendments

Income Tax Assessment Act 1997

5   After subsection 152-10(1)

Insert:

CGT small business entity

(1AA) You are a CGT small business entity for an income year if:

(a) you are a *small business entity for the income year; and

(b) you would be a small business entity for the income year if each reference in section 328-110 to $10 million were a reference to $2 million.

Note: For the purposes of subsection (1A) or (1B), in determining whether an entity would be a small business entity, see also sections 152-48 and 152-78.