JobKeeper 2.0

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.

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We would like to welcome Jasmine Tooby who has joined our accounting team recently.

Jasmine is a smart, keen young professional who is enjoying gradually getting to know more about our lovely clients.

Welcome Jasmine!

Jasmine Tooby
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For those eligible and registered for the first JobKeeper extension period from 28 September – 3 January, employers will need to show that their actual GST turnover has declined by at least 30% in the September 2020 quarter relative to the comparable 2019 period.

This needs to be done before 31 October 2020 (via lodging your BAS).

Alternative tests for determining actual decline in turnover may be available in some circumstances and more information is to follow about these – please contact your friendly Halletts team member if you would like to discuss!

You may also find our JobKeeper 2.0 Checklist helpful in determining which tier your employees are eligible for.

Below are some important dates you may like to diarise:

  • Now – you should be notifying employees about the JobKeeper payment they can expect to receive depending upon which Tier they fall into
  • 28 September – start paying your eligible employees their Tier 1 and Tier 2 JobKeeper rates, based on their hours worked in the reference period (see our Checklist for help)
  • From 28 September – if you are using Single Touch Payroll, you can notify the ATO of each eligible employee’s Tier as part of the normal payday reporting
  • 1 – 14 October – complete the October JobKeeper monthly business declaration to receive reimbursement for the September fortnights
  • 1 – 31 October – Prepare and submit your actual decline in turnover to the ATO (via your BAS)
  • Before 31 October – ensure you have paid eligible employees the correct amount for their Tier for the fortnights starting 28 September and 12 October
  • From 1 November – Complete the November monthly business declaration and confirm which payment tier is claimed for each employee.