THERAPEUTIC GOODS REGULATIONS 1990 - REG 43AAA Meaning of turnover and when turnover is of low value

THERAPEUTIC GOODS REGULATIONS 1990 - REG 43AAA

  (1)   For this Division (other than Subdivision   3) and subject to regulation   43AABB, a person's turnover of therapeutic goods for a financial year is of low value if the turnover is $0.

  (2)   For this Division (other than Subdivision   3) and subject to regulation   43AABB:

  (a)   a person's turnover of therapeutic goods for a financial year commencing on or after 1   July 2015 is the gross amount (in dollars) received (excluding GST) from sales (whether direct or indirect) of the goods in Australia by the person for the financial year; and

  (b)   a person's turnover of therapeutic goods (other than a biological) for a financial year commencing before 1   July 2015 is the person's turnover, as defined by regulation   43AAB of these Regulations as in force immediately before 1   July 2015, for the goods.