Jobkeeper and Eligibility

If you are currently getting jobkeeper payments from Australian Taxation Office but the payment you will get until 27th September and after that you still want to receive payment you need to reassess your eligibility that your turnover still declines after 28th September 2020.

You need to assess the actual GST turnover for the June and September 2020 quarters and that means payments should be between 28 September 2020 to 3rd January 2021.

For the quarters June, September and December 2020 quarters, the payment should be 4th January 2021 to 28 March 2021.

Eligible employers

If employers want jobkeeper payment they need to show decline in their turnover to pass the eligibility test.

If you carried on a business in Australia or it was for non profit organisation on 1st March 2020

  • Company’s turnover should be declined in turnover test
  • ≥ 15% for an ACNC-registered charity which is not included universities, or schools within the meaning of the GST Act – these entities need to meet the basic turnover test)
  • ≥ 50% for large businesses:

– aggregated turnover for the test period is likely to be $1 billion or more, or aggregated turnover for the previous year to the test period was $1 billion or more

  • a small business that forms part of a group that is a large business must have a >50% decline in turnover
  • ≥ 30% for all other qualifying entities.

 

  • And, was not:
  • Major bank levy who have any quarter which is ending before the date, Consolidation group member and another group member had subject to levy or;
  • A government body is a wholly-owned entity of such a body; or
  • At the time the payments Liquidator had been appointed to the business or a trustee in bankruptcy had been appointed to the individual’s property.

Additional tests will apply by ATO guideline from 28th September 2020.

For more information regarding jobKeeper payment,you can book an appointment with our experts and solve any business related query.

For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

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