Document ID: chunk:federal_register_of_legislation:C2021C00270:clause:3_38
Version: federal_register_of_legislation:C2021C00270
Segment Type: clause
Provision Reference: sch 3 cl 38
Character Range: 47486–48149

38  After subsection 45‑130(1) in Schedule 1
Insert:
 (1A) An entity is covered by this subsection for an income year if:
 (a) the entity is not a *small business entity (other than because of subsection 328‑110(4) of the Income Tax Assessment Act 1997) for the income year; and
 (b) the entity would be such a small business entity for the income year 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 covered by this subsection.