259A
In forceMeaning of “small business”
Chapter 8Insurance
Part 5AExemptions for small business
259A Meaning of “small business”
For the purposes of this Part, a person is a small business—
(a)
if the person is a CGT small business entity (within the meaning of section 152-10 (1AA) of the Income Tax Assessment Act 1997 of the Commonwealth) for the income year in which the insurance is effected or renewed, or
(b)
in any other circumstances prescribed by the regulations.
Regulations
This provision refers to the regulations (prescribed by the regulations
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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