Calculating your turnover

Turnover includes all ordinary income earned in the ordinary course of business for the income year. The following are some examples of amounts included and not included in ordinary income.

Include these amounts	Do not include these amounts
sales of trading stock fees for services provided interest from business bank accounts amounts received to replace something that would have had the character of business income, for example, a payment for loss of earnings

There are special rules for calculating your annual turnover if you have retail fuel sales or business dealings with associates.

The business operated for only part of the year

If you carried on a business for only part of the income year, your turnover is worked out using a reasonable estimate of what the turnover would have been if you had carried on the business for the whole of the income year. This includes winding up the business.