Document ID: chunk:federal_register_of_legislation:C2023A00029:clause:4_1:p2
Version: federal_register_of_legislation:C2023A00029
Segment Type: clause
Provision Reference: sch 4 cl 1 (pt 2/3)
Character Range: 63097–65757

to the expenditure.

Businesses with turnover under $50 million
 (4) An entity is covered by this subsection for an income year if:
 (a) the entity is not a small business entity for the income year; and
 (b) the entity would be a small business entity for the income year if:
 (i) each reference in Subdivision 328‑C (about what is a small business entity) of the Income Tax Assessment Act 1997 to $10 million were instead a reference to $50 million; 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 subsection.

These are bonus deductions under the Income Tax Assessment Act 1997
 (5) The Income Tax Assessment Act 1997 has effect as if this section and section 328‑450 of this Act were provisions of Division 25 of the Income Tax Assessment Act 1997.
 (6) Sections 8‑10 and 355‑715 of the Income Tax Assessment Act 1997 do not apply in relation to a deduction under this section.

328‑450  Expenditure eligible for the bonus deduction for upskilling employees of small business entities etc.
 (1) This section applies to expenditure if:
 (a) you incur the expenditure for the provision of:
 (i) in‑person training for one or more of your employees located in Australia; or
 (ii) online training for one or more of your employees; and
 (b) at each time you incur any of the expenditure for any of the training provided by a particular provider:
 (i) the provider is a registered body of a kind listed in subsection (2); and
 (ii) if the provider is a registered body of a kind listed in paragraph (2)(b), (c) or (d)—the training is within the provider's scope of registration for that kind of registered body; and
 (c) none of the providers of the training is you or an associate of you; and
 (d) each enrolment, or arrangement, for the provision of the training is made or entered into at or after 7.30 pm, by legal time in the Australian Capital Territory, on 29 March 2022; and
 (e) the expenditure is charged, directly or indirectly, to you by the providers of the training.
Note: Paragraphs (b) and (c) mean this section will not apply to expenditure for on‑the‑job training or training provided by you in house.
 (2) For the purposes of paragraph (1)(b), the kinds of registered bodies are as follows:
 (a) a registered higher education provider (within the meaning of the Tertiary Education Quality and Standards Agency Act 2011);
 (b) a NVR registered training organisation (within the meaning of the National Vocational Education and Training Regulator Act 2011);
 (c) a registered education and training organisation (within the meaning of the Education