This week further guidance has been released on the JobKeeper Alternative Decline in Turnover Tests which can be applied in circumstances where a business does not pass the JobKeeper Basic Decline in Turnover Test.
The Alternative Decline in Turnover Tests cover seven classes of businesses as follows:
- New businesses
- Business with a substantial increase in turnover
- Business with an irregular turnover
- Business affected by drought or natural disaster
- Business acquisition or disposal that changed the entity’s turnover
- Business restructure that changed the entity’s turnover
- Sole traders or small partnerships with sickness, injury or leave
Further details regarding these tests can be found at https://www.ato.gov.au/general/JobKeeper-Payment/
If you believe the Alternative Decline in Turnover tests may apply to your business and you would like to investigate them further please contact Brealey Quill Kenny Canning Vale, on on 92562777.