When considering the Maximum Net Value Test, refer https://mcnamaraandco.au/blog/how-is-the-maximum-net-asset-value-test-calculated-for-the-cgt-small-business-concessions

And

The $2 million aggregated turnover test https://mcnamaraandco.au/blog/how-is-the-2-million-aggregated-turnover-test-calculated-for-the-cgt-small-business-concessions

You must understand who your Affiliates are as these will come into consideration when calculating the balances for both the Aggregated Turnover Test and the Maximum Net Value Test.

Section 328-130(1) of the Income Tax Assessment Act 1997, provides the definition of affiliate.  When an individual or a company (in relation to the affairs of the business of the individual or company) acts, or reasonably expected to act according to the directions of the taxpayer.

McNamara & Company - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandco.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.au

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