The Australian Taxation Office (ATO) recently issued three final Taxation Determinations (TDs) to help entities determine whether they are 'connected with' another entity for the purpose of working out their aggregated turnover. Aggregated turnover is relevant to a range of tax concessions, including temporary loss carry back and temporary full expensing. These include:
- TD 2022/5 Income tax: aggregated turnover - application of the 'connected with' concept to corporate limited partnerships.…