Treasury Laws Amendment (2023 Measures No. 2) Act 2023 (28 of 2023)
Schedule 4 Cash flow relief for small and medium businesses
Part 1 Amendments
Taxation Administration Act 1953
1 At the end of section 45-405 in Schedule 1
Add:
Reduced GDP adjustment for 2023-24 income year
(10) Despite subsections (3) and (6), if the current year is the 2023-24 income year, then for the purposes of the formula in subsection (2) the GDP adjustment is 6%.
Note: This subsection will be repealed on 1 July 2028: see Part 2 of Schedule 4 to the Treasury Laws Amendment (2023 Measures No. 2) Act 2023.
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