Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)

Schedule 5   Payments of tax by small companies

Income Tax Assessment Act 1936

12   Paragraph 221AZK(3)(a)

Repeal the paragraph, substitute:

(a) a taxpayer is classified as small, medium or large according to the taxpayer's likely tax for the current year, calculated at the end of the reckoning day;

Note: Sections 221AZKA and 221AZMA can change a taxpayer's classification.