Document ID: chunk:federal_register_of_legislation:C2021C00270:clause:3_19
Version: federal_register_of_legislation:C2021C00270
Segment Type: clause
Provision Reference: sch 3 cl 19
Character Range: 42489–43087

19  After subsection 82KZM(1)
Insert:
 (1A) A taxpayer is covered by this subsection for a year of income if:
 (a) the taxpayer is not a small business entity for the year of income; and
 (b) the taxpayer 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 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 a taxpayer covered by this subsection.