Income tax: Simplified Tax System eligibility - STS average turnover

TR 2002/11 deals with the definition of 'Simplified Tax System (STS) average turnover' in former section 328-370 of the Income Tax Assessment Act 1997 (ITAA 1997). This concept was relevant in determining whether an entity was eligible to be an STS taxpayer for an income year under the former STS regime.

Section 328-370 of the ITAA 1997 has been repealed and replaced by the Small Business Entity regime in the new Division 328 of the ITAA 1997.

TR 2002/11 has no ongoing relevance and is therefore withdrawn without replacement.