As usual, not everyone fits neatly into the ATO’s standard Decline in Turnover test for JobKeeper 2.0, so there are some (better late than never) alternative tests which may be applied. The alternative tests are similar in nature to those issued for JobKeeper 1.0 but need to be applied to different trading periods.
Please contact your friendly Halletts team member to discuss in more detail if you are not likely to qualify under the new standard tests but even vaguely think your circumstances might fall into any one of these categories, and we will do our best to help your business receive what it is entitled to.
The tests cover:
- A business that started after the comparison period (September – December 2019) but before 1 March 2020
- A business (whole or part) that was acquired or disposed of which changed the entity’s current GST turnover
- A business that has undergone a restructure which changed the entity’s turnover
- A business that has had a substantial increase in turnover
- A business that has been affected by drought or natural disaster
- A business that has experienced irregular turnover
- A sole trader or small partnership (4 or less partners) with sickness, injury or leave.
Case studies are always useful and the ATO has provided some here, together with more details if you need them.
If you think you might stand a chance of eligibility under any of the alternative tests, please let us know ASAP.