Tax Laws Amendment (Small Business) Act 2007 (80 of 2007)
Schedule 4 Capital gains tax small business concessions
Part 1 Main amendments
Income Tax Assessment Act 1997
24 Subsection 165-115GC(8)
Omit “because of the $10,000 or small business entity exclusions”, substitute “because of the $10,000 exclusion, or because you satisfy the maximum net asset value test in section 152-15”.
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