Small business entity
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You will be a small business entity if you are an individual, partnership, company or trust that:
- is carrying on a business, and
- has an aggregated turnover of less than $2 million.
What is aggregated turnover?
Aggregated turnover is your annual turnover plus the annual turnovers of any business entities that are your affiliates or that are connected with you. The aggregation rules help you determine whether you need to include the annual turnover of another business entity (a relevant entity) when calculating your aggregated turnover. These rules aim to prevent businesses splitting their activities in order to inappropriately access the small business entity concessions.
A relevant entity is an entity that is your affiliate or is connected with you.
Last modified: 01 Feb 2012QC 24431