On 18 October 2017, the Australian Taxation Office (ATO) published Draft Taxation Ruling TR 2017/D7 on when a company is considered to carry on a business within the meaning of section 23AA of Income Tax Rates Act 1986. Section 23AA concerns when an entity is a "base rate entity" for the purpose of the reduced corporate tax rate from 2017 ({News-2017-05-26/A/2-previous coverage}). Comments are …