• Eligibility – aggregated annual turnover

    You can choose to use the simplified depreciation rules if you have a small business with an aggregated annual turnover of less than $2 million.

    Aggregated annual turnover is the total income of your business and that of any businesses that you're connected with or are your affiliate.

    Aggregated turnover excludes income from dealings between you and entities you're connected with or are your affiliate.

    An entity is connected with you if either:

    • you control or are controlled by the entity
    • both you and the entity are controlled by a third entity.

    An affiliate is any individual or company that in relation to their business affairs acts or could reasonably be expected to act in accordance with your directions or wishes, or in concert with you.

      Last modified: 05 Jul 2016QC 21100