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

1   Section 152-5

Omit:

(a) the entity must be a small business entity or a partner in a partnership that is a small business entity, or the net value of assets that the entity and related entities own must not exceed $6,000,000;

substitute:

(a) the entity must be a CGT small business entity or a partner in a partnership that is a CGT small business entity, or the net value of assets that the entity and related entities own must not exceed $6,000,000;