Treasury Laws Amendment (2023 Measures No. 2) Act 2023 (28 of 2023)

Schedule 4   Cash flow relief for small and medium businesses

Part 1   Amendments

Taxation Administration Act 1953

1   At the end of section 45-405 in Schedule 1

Add:

Reduced GDP adjustment for 2023-24 income year

(10) Despite subsections (3) and (6), if the current year is the 2023-24 income year, then for the purposes of the formula in subsection (2) the GDP adjustment is 6%.

Note: This subsection will be repealed on 1 July 2028: see Part 2 of Schedule 4 to the Treasury Laws Amendment (2023 Measures No. 2) Act 2023.