JobKeeper Payments – Alternative Turnover Eligibility Tests
There are alternative tests for the fall in turnover for businesses that do not meet the existing ‘basic’ test. The alternative will allow businesses not previously eligible for JobKeeper to apply.
When Do Alternative Tests Apply?
- You commenced business after the relevant comparison period
- You acquired or disposed of part of your business after the relevant comparison period
- You undertook a restructure after the relevant comparison
- Your turnover substantially increased immediately prior to the relevant period.
- Your business was affected by declared natural disasters during the relevant comparison period.
- Your business has a large irregular cyclical or seasonal variance in turnover before the applicable turnover test period
- Where sickness, injury or leave has impacted your ability to work in your business which has, in turn, affected turnover.
What are the Implications for your JobKeeper Eligibility?
To access JobKeeper payments, your small to medium business must pass the turnover test – showing you’ve seen a decline in revenue of at least 30% to a comparable period.
The alternative test grants businesses different ways of proving a decline in revenue of at least 30% to a comparable period. This potentially opening the wage subsidy up to a new group of businesses who were not previously eligible.
For more detail, email Info@journey2.com.au or call 02 4228 4877