Document ID: chunk:federal_register_of_legislation:C2022A00054:clause:1_1
Version: federal_register_of_legislation:C2022A00054
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 5236–7366

1  Subsection 4(1)
Insert:
adjusted turnover, of a body corporate during a period, means the sum of the values of all the supplies that the body corporate, and any body corporate related to the body corporate, have made, or are likely to make, during the period, other than:
 (a) supplies made from any of those bodies corporate to any other of those bodies corporate; or
 (b) supplies that are input taxed; or
 (c) supplies that are not for consideration (and are not taxable supplies under section 72‑5 of the A New Tax System (Goods and Services Tax) Act 1999); or
 (d) supplies that are not made in connection with an enterprise that the body corporate carries on; or
 (e) supplies that are not connected with the indirect tax zone.
Expressions used in this definition that are also used in the A New Tax System (Goods and Services Tax) Act 1999 have the same meaning as in that Act.
breach turnover period, of a body corporate, for an offence, a contravention, or an act or omission, means the longer of the following periods:
 (a) the period of 12 months ending at the end of the month in which:
 (i) for an offence—the body corporate ceased committing the offence, or was charged with the offence (whichever is earlier); or
 (ii) for a contravention—the contravention ceased, or proceedings in relation to the contravention were instituted (whichever is earlier); or
 (iii) for an act or omission—the act or omission ceased, or proceedings in relation to the act or omission were instituted (whichever is earlier);
 (b) the period ending at the same time as the period determined under paragraph (a) and starting:
 (i) for an offence—at the beginning of the month in which the body corporate committed, or began committing, the offence (as the case requires); or
 (ii) for a contravention—at the beginning of the month in which the contravention occurred or began occurring (as the case requires); or
 (iii) for an act or omission—at the beginning of the month in which the act or omission occurred or began occurring (as the case requires).

Part 2—Amendments to competition provisions

Competition and Consumer Act 2010