Document ID: chunk:federal_register_of_legislation:C2015A00147:clause:1_8
Version: federal_register_of_legislation:C2015A00147
Segment Type: clause
Provision Reference: sch 1 cl 8
Character Range: 3365–4268

8  At the end of section 12BF
Add:
 (4) A contract is a small business contract if:
 (a) at the time the contract is entered into, at least one party to the contract is a business that employs fewer than 20 persons; and
 (b) either of the following applies:
 (i) the upfront price payable under the contract does not exceed $300,000;
 (ii) the contract has a duration of more than 12 months and the upfront price payable under the contract does not exceed $1,000,000.
 (5) In counting the persons employed by a business for the purposes of paragraph (4)(a), a casual employee is not to be counted unless he or she is employed by the business on a regular and systematic basis.
 (6) For the purposes of subsection (4) and despite subsection 12BI(3), in working out the upfront price payable under a contract under which credit is or is to be provided, disregard any interest payable under the contract.