The Treasurer has released an exposure draft of the Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009 and associated explanatory material. The Small Business and General Business Tax Break was announced on 3 February 2009 as part of the Government’s Nation Building and Jobs Plan.

Treasury has also produced a series of frequently asked questions about the Tax Break.

Interested parties are invited to comment on the exposure draft legislation and explanatory memorandum by 10 March 2009.