Income Tax Amendment Regulations 2007 (No. 2)

(176 of 2007)

21 June 2007

Income Tax Assessment Act 1936

1   Name of Regulations

These Regulations are the Income Tax Amendment Regulations 2007 (No. 2).

2   Commencement

These Regulations commence:

(a) if they are registered before the Tax Laws Amendment (Small Business) Act 2007 commences - on the commencement of that Act; or

f they are registered after that Act commences - on the day after they are registered.

3   Amendment of Income Tax Regulations 1936

Schedule 1 amends the Income Tax Regulations 1936.

4   Transitional

The amendment made by Schedule 1 applies in relation to assessments for the 2007–2008 income year and later income years.

Schedule 1   Amendment

[1]   Regulation 20, table, item 4, column 3, paragraph (d)

omit

an STS taxpayer

insert

a small business entity