An entity’s ‘annual turnover’ for an income year is the total (GST-exclusive) “ordinary income derived in the ordinary course of carrying on a business”.
 
Common examples of amounts included in ordinary income are trading stock sales, fees for services provided and interest from business bank accounts. In contrast, ordinary income does not usually come from selling capital assets.
 
Also, the ATO has confirmed that while JobKeeper payments received by a business entity are ordinary income, they are not “earned in the ordinary course of carrying on business” and, therefore, are excluded from the entity’s annual turnover.

Source: NTAA