Document ID: chunk:federal_register_of_legislation:C2010C00262:clause:3_12
Version: federal_register_of_legislation:C2010C00262
Segment Type: clause
Provision Reference: sch 3 cl 12
Character Range: 30929–31522

12    PAYG instalments based on GDP‑adjusted notional tax                                                     Section 45‑130 of Schedule 1 to the Taxation Administration Act 1953

 (2) Also, if you are a small business entity for an income year, the standard 2‑year period for amending your assessment applies to you (section 170 of the Income Tax Assessment Act 1936).

Note: If you are a small business entity for an income year and your aggregated turnover for the year is less than $75,000, you may also be entitled to the 25% entrepreneurs' tax offset: see Subdivision 61‑J of this Act.