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
20 After section 328-355
Insert:
328-357 Special meaning of small business entity for the purposes of this Subdivision - $5 million turnover threshold
For the purposes of this Subdivision, in working out whether you are a *small business entity for an income year, assume that each reference in section 328-110 to $10 million were a reference to $5 million.
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