Tax Laws Amendment (Small Business) Act 2007 (80 of 2007)

Schedule 2   Amendments relating to GST turnover thresholds

Part 1   Main amendments

A New Tax System (Goods and Services Tax) Act 1999

31   Paragraph 162-30(1)(c)

Repeal the paragraph, substitute:

(c) in a case to which subparagraph 162-5(1)(a)(i) applied - you are not a *small business entity of the kind referred to in that subparagraph for an *income year; or

(ca) in a case to which subparagraph 162-5(1)(a)(ii) applied - on 31 July in a *financial year, you do not satisfy the requirements of that subparagraph; or