Understanding aggregated turnover and how it impacts tax concessions

Roelof van der Merwe

Aggregated turnover is an entity’s annual turnover for the income year as well as the annual turnover of entities connected with or an affiliate of that entity. Your entity’s aggregated turnover may impact the various tax concessions your business can qualify for.

An entity is connected with another entity if either entity controls the other entity or both entities are controlled by the same third entity.

An individual or a company is an affiliate of an entity if the individual or company acts or could reasonably be expected to act in accordance with the entity’s directions or wishes or in concert with the entity in relation to the affairs of the business of the individual or company.

To determine the concessions your business can potentially qualify for, it is necessary to determine what your aggregated turnover is.

Tax concessions

Working out your aggregated turnover and determining whether you satisfy the different conditions of the different concessions can be a complicated task.

Please speak to your Crowe adviser or get in touch with the Tax Advisory team if you want to know more about these concessions and how they can help your business.