Income Tax Assessment Act 1997
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Hide history noteSECTION 328-115 Meaning of aggregated turnover 328-115(1)
Your aggregated turnover for an income year is the sum of the relevant annual turnovers (see subsection (2)) excluding any amounts covered by subsection (3).
Note:
For small business CGT relief purposes, additional entities may be treated as being connected with you or your affiliate under sections 152-48 and 152-78 .
328-115(2)
The relevant annual turnovers are:
(a) your *annual turnover for the income year; and
(b) the annual turnover for the income year of any entity (a relevant entity ) that is *connected with you at any time during the income year; and
(c) the annual turnover for the income year of any entity (a relevant entity ) that is an *affiliate of yours at any time during the income year.
328-115(3)
Your aggregated turnover for an income year does not include the following amounts:
(a) amounts *derived in the income year by you or a relevant entity from dealings between you and the relevant entity while the relevant entity is *connected with you or is your *affiliate;
(b) amounts derived in the income year by a relevant entity from dealings between the relevant entity and another relevant entity while each relevant entity is connected with you or is your affiliate;
(c) amounts derived in the income year by a relevant entity while the relevant entity is not connected with you and is not your affiliate.
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