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

Schedule 1   Reducing the corporate tax rate

Part 1   Amendments commencing 1 July 2016

Income Tax Rates Act 1986

3   Paragraph 23(4)(c)

Repeal the paragraph, substitute:

(c) in respect of so much of the taxable income as exceeds the PDF component:

(i) if the company is a small business entity for a year of income - 27.5%; or

(ii) otherwise - 30%.