Document ID: chunk:federal_register_of_legislation:C2021C00270:clause:3_24
Version: federal_register_of_legislation:C2021C00270
Segment Type: clause
Provision Reference: sch 3 cl 24
Character Range: 44089–44746

24  Subsection 170(14)
Insert:
medium business entity, for a year of income, means an entity (within the meaning of the Income Tax Assessment Act 1997) who:
 (a) is not a small business entity for the year of income; and
 (b) would be a small business entity for the year of income if:
 (i) each reference in Subdivision 328‑C (about what is a small business entity) of that Act 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 (within the meaning of that Act) covered by this definition.

Income Tax Assessment Act 1997