Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 40.155

    This section covers you for an income year if:

  (a)   you are a small business entity for the income year; or

  (b)   you would be a small business entity for the income year if:

  (i)   each reference in Subdivision   328 - C of the Income Tax Assessment Act 1997 (about what is a small business entity) to $10 million were instead a reference to $5 billion; and

  (ii)   the reference in paragraph   328 - 110(5)(b) of that Act to a small business entity were instead a reference to an entity covered by this section.