Tax Laws Amendment (Small Business) Act 2007 (Cth)

Tax Laws Amendment (Small Business) Act 2007

Act No. 80 of 2007 as amended

This compilation was prepared on 4 March 2010

[This Act was amended by Act No. 8 of 2010]

Amendments from Act No. 8 of 2010 [Schedule 2 (item 30) amended item 52 of Schedule 3 Schedule 2 (item 31) amended item 55 of Schedule 3 Schedule 2 (items 30 and 31) commenced immediately after 21 June 2007]

Prepared by the Office of Legislative Drafting and Publishing, Attorney‑General's Department, Canberra

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Small business entities Income Tax Assessment Act 1997

Schedule 2—Amendments relating to GST turnover thresholds

Part 1—Main amendments A New Tax System (Goods and Services Tax) Act 1999

Part 2—Consequential amendments Income Tax Assessment Act 1997 Taxation Administration Act 1953

Part 3—Application and transitional

Schedule 3—STS taxpayers

Part 1—Main amendments Income Tax Assessment Act 1997

Part 2—Consequential amendments Income Tax Assessment Act 1936 Income Tax Assessment Act 1997

Part 3—Application and transitional Income Tax (Transitional Provisions) Act 1997

Schedule 4—Capital gains tax small business concessions

Part 1—Main amendments Income Tax Assessment Act 1997

Part 2—Consequential amendments A New Tax System (Wine Equalisation Tax) Act 1999 Income Tax Assessment Act 1997

Part 3—Application

Schedule 5—Fringe benefits tax: car parking exemption Fringe Benefits Tax Assessment Act 1986

Schedule 6—PAYG instalments Taxation Administration Act 1953

Schedule 7—Roll‑over relief Income Tax Assessment Act 1997

Schedule 8—Miscellaneous amendments Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997 An Act to amend the law relating to taxation, and for related purposes

[Assented to 21 June 2007]

The Parliament of Australia enacts: