Income Tax Rates Act 1986
An entity is a base rate entity for a year of income if:
(a) no more than 80% of its assessable income for the year of income is base rate entity passive income; and
(b) its aggregated turnover (within the meaning of the Income Tax Assessment Act 1997 ) for the year of income, worked out as at the end of that year, is less than $50 million.
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