Document ID: chunk:federal_register_of_legislation:F2015L00842:reg:12:p2
Version: federal_register_of_legislation:F2015L00842
Segment Type: reg
Provision Reference: reg 12 (pt 2/2)
Character Range: 19476–21594

subsection (1), revenue is revenue for a relevant period if the following conditions apply:
          (a) the revenue is reported in:
            (i) the last financial statements for a period ending on or before the end of the eligible revenue period in which the relevant period occurs; or
            (ii) if that period is shorter than the relevant period, the periods covered by those financial statements and the financial statements for as many other periods as amount to, in total, a period of at least equal length to the relevant period;
          (b) if those financial statements cover a period longer than the relevant period, the revenue was earned in a period, within the period covered by the financial statements, that:
            (i) is of equal length to the relevant period; and
            (ii) the ACMA considers to be the most appropriate period, within the period covered by the financial statements, for matching with the relevant period.
Example: A body's financial statements cover the period from 1 April in a year to 31 March in the following year. The relevant period runs from 1 July to 30 June. Although the first 3 months of the period covered by the financial statements are outside the relevant period, the revenue earned in those months might be considered to be part of the body's eligible revenue for the relevant period, as those months may be considered the most appropriate period for matching with the corresponding months of the following year (since the financial statements for the latter period cannot be considered).
 (4) If none of the sources mentioned in subsection (2) identifies the amount of an entity's sales revenue for a relevant period, the sales revenue for that period is to be worked out using as many sources as are necessary to identify the entity's sales revenue for the period.
Note: See section 15 for how to work out initial sales revenue based on sources identified in this section.
 (5) If the ACMA makes a decision under subparagraph (3)(b)(ii), the ACMA must give written notice of the decision to the person or party to whom the decision relates.