Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 (92 of 2020)

Schedule 3   Increasing small business entity turnover threshold for certain concessions

Part 1   Amendments

Income Tax Assessment Act 1997

29   At the end of subsection 328-110(1)

Add:

Note 3: The $10 million thresholds in this subsection and in subsections (3) and (4) have been increased to $50 million for certain concessions (for example, see subsection 328-285(2)).