The Federal Government has updated their fact sheet on the JobKeeper payment to clarify the turnover decline eligibility criteria.
 
To establish that a business has incurred the necessary 30% or 50% decline in their turnover, reference will be made to the Business Activity Statement (BAS) of the entity relative to the BAS for the same period for the previous year. The test period for the decline will be based on the normal BAS lodgement cycle of the entity (monthly or quarterly).
 
The fact sheet also indicates that some discretion will be available for circumstances such as where:

  • a business was not in operation in the previous year; or
  • the business’ turnover in the prior year was not representative of their usual or average turnover, such as where there was a large acquisition or where turnover is highly variable.

The Commissioner of Taxation will also have discretion to set out alternative tests to establish eligibility in certain circumstances.
 
There will also be tolerance where a business, in good faith, estimates that their turnover will decline by more than 30% or 50% but actually experiences a slightly lower fall.
 
If you would like to discuss how the scheme applies to your business please contact us
on (03) 5222 4522.

We will advise you of further details once the legislation has been passed. 

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Last updated 02/04/2020