Entrepreneurs tax offset

Small business turnover

Your small business turnover is the total ordinary income you earned in the ordinary course of carrying on your business in an income year.

For examples of amounts that make up ordinary income, refer to 'Amounts included and not included in ordinary income' in Am I eligible for the small business entity concessions?

Use your small business turnover to work out the amount of your ETO. In most cases, your small business turnover will be the same as your aggregated turnover amount. However, there are some special rules for working out aggregated turnover that do not apply when you work out your small business turnover.

If you have already worked out your aggregated turnover, you may have to make adjustments to it to work out your small business turnover:

• If you have included another business' turnover in your aggregated turnover amount, you must
• exclude that business' turnover
• add back any income you derived from your affiliates or connected entities.
• If you operated a business for part of the year, you include only your actual turnover amount (you do not need to use the estimate of your full year turnover).
   
• If you have retail fuel sales, you must add back your retail fuel sales.

Sections within Who is eligible for the ETO?

• Small business turnover
• Net small business income