Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 328.50

Objects of this Division

  (1)   The main object of this Division is to offer eligible small businesses the choice of a new platform to deal with their tax. The platform is designed to benefit those businesses in one or more of these ways:

  reducing their tax;

  providing simpler rules for determining their income and deductions;

  providing simpler capital allowances and trading stock requirements;

  reducing their compliance costs.

  (2)   This Division also provides rules that are intended to prevent other businesses from taking advantage of those benefits.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback