What is Annual Turnover?
The annual turnover for an enterprise meets the turnover threshold if: • the current annual turnover is $50 000 or above and the Commissioner is not satisfied that your projected annual turnover is below $50 000 ; or • the projected annual turnover is $50 000 or above. Current annual turnover is the sum of: • Supplies made or likely to be made, in the current month, plus • Supplies made in the previous 11 months, less • Supplies excluded. Supplies that are excluded in the calculation of current annual turnover are: • Supplies that are input taxed; or • Supplies that are for no consideration; or • Supplies that are not made in the course of your enterprise; or • Supplies that are not connected with Australia. Projected annual turnover is the sum of: • Supplies made or likely to be made, in the current month, plus • Supplies made or likely to be made in the next 11 months, less • Supplies excluded. Supplies that are excluded in the calculation of projected annual turnover: • Supplies tha
