Tax Laws Amendment (Small Business) Act 2007 (80 of 2007)

Schedule 2   Amendments relating to GST turnover thresholds

Part 1   Main amendments

A New Tax System (Goods and Services Tax) Act 1999

56   Section 195-1

Insert:

GST turnover :

(a) in relation to meeting a *turnover threshold - has the meaning given by subsection 188-10(1); and

(b) in relation to not exceeding a *turnover threshold - has the meaning given by subsection 188-10(2).