Treasury Laws Amendment (Enterprise Tax Plan) Act 2017 (41 of 2017)

Schedule 4   Main consequential amendments relating to imputation

Part 1   Amendments commencing 1 July 2016

Income Tax Assessment Act 1997

27   Subsection 995-1(1) (definition of corporate tax rate)

Repeal the definition, substitute:

corporate tax rate :

(a) in relation to a company to which paragraph 23(2)(a) of the Income Tax Rates Act 1986 applies - means the rate of tax in respect of the taxable income of a company covered by that paragraph; or

(b) in relation to another entity - means the rate of tax in respect of the taxable income of a company covered by paragraph 23(2)(b) of that Act.