12 May 099 Entrepreneurs' tax offset - defer application of income testThe Government will defer the application of the income test for the entrepreneurs’ tax offset (ETO) announced in the 2008 09 Budget for 12 months. This measure has a cost to revenue which is estimated to be $38 million over the forward estimates period.
The deferral ensures that the timing and nature of the income test is consistent with the Government’s broader income testing reforms. The Government will consult on the form of the income test, which will apply from the 2009 10 financial year.
See Budget Paper No 2, p 14.