TD 2021/D1 – Draft Determination on how to calculate ‘aggregated turnovers’ where ‘connected’ and ‘affiliate’ entities have adopted different accounting periods for the same ‘income year’
On Fri 11.6.2001, the ATO issued Draft TD 2021/D1, which is titled “Income tax: when working out your aggregated turnover, are the relevant annual turnovers of entities connected with you, or entities that are affiliates of yours, determined by reference to your income year?”. The Commissioner proposes to rule that turnover must be calculated for…