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From 24 April 2024 there will be changes to categorisation, reporting & record keeping requirements - see announcements on changes to the General Rules & changes to the Categorisation Guidelines.

Medium to large business

We use the Australian Tax Office definition:  

You are a medium to large business if you are a sole trader, partnership, company or trust that: 

  • operates a business for all or part of the Australian financial year (1 July to 30 June), and 
  • has an aggregated turnover of more than $10 million 

Your aggregated turnover is your annual turnover (all ordinary income you earned in the ordinary course of running a business for the financial year) plus the annual turnover of any entities you are connected with or that are your affiliates. 

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