The Annual Turnover Test
As we have seen, an entity is required to register if its "annual turnover" is $75,000 or more. This means that it must register if either of the following applies:
If you are a non-profit body, the corresponding threshold is $150,000. Under the income tax law, a non-profit body must not be carried on for the purposes of profit or gain to its individual members. In addition, its constitution must prohibit a distribution of profits or assets among members of the organisation during its lifetime or on its winding up.
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