Document ID: chunk:federal_register_of_legislation:C2019C00020:clause:3_19
Version: federal_register_of_legislation:C2019C00020
Segment Type: clause
Provision Reference: sch 3 cl 19
Character Range: 14936–15610

19  Section 328‑350
Repeal the section, substitute:

328‑350  What this Subdivision is about

      You may be entitled to a tax offset if you are an individual:
             (a) who is a small business entity; or
             (b) whose assessable income includes a share of the net small business income of an unincorporated small business entity; or
             (c) whose assessable income includes an amount because you are a partner in a partnership, or a beneficiary in a trust, that is a small business entity.
      In working out whether you are or another entity is a small business entity, a special $5 million turnover threshold applies (see section 328‑357).