The Federal Government has finalized the Job Keeper Extension program with significant updates to eligibility criteria. One key change involves the turnover test, now assessed quarterly rather than monthly.
Understanding the Job Keeper Turnover Test Requirement
To qualify, your business’s turnover from July to September 2020 must show a 30% decline compared to the same period in 2019. Unfortunately, you won’t be eligible for the new Job Keeper program if your sales don’t meet this decrease.
Alternative Testing Criteria for Eligibility
If your business doesn’t meet the basic conditions, you may still qualify under alternative testing methods, including:
- Newly Established Businesses: Businesses that started operating after the comparison period (on or after 1 March 2020) and lack historical turnover data.
- Business Acquisition or Disposal: Applies if acquiring or selling parts of the business significantly altered your turnover levels.
- Business Restructure: For businesses that underwent structural changes, impacting their turnover figures and overall operations.
- Significant Turnover Growth: Designed for businesses experiencing substantial increases in turnover during the relevant period.
- Impact of Drought or Natural Disaster: For businesses severely affected by environmental events, impacting their operations.
- Irregular Turnover Patterns: Targets businesses with highly fluctuating or seasonal income patterns that differ from the norm.
- Sole Traders/Small Partnerships with Illness or Leave: If turnover was affected due to sickness, injury, or personal leave, making standard tests unsuitable.
These alternative methods ensure fair eligibility for businesses with unique or exceptional circumstances.
For assistance with alternative testing, contact us at 0410-829-900 or email John Cheng at hello@endurego.com.
Why Work with Endurego Tax?
With extensive experience in Ashfield Sydney and Adelaide, South Australia, Endurego Tax offers expert guidance on Job Keeper eligibility, ensuring your business gets the support it needs. Reach out to John Cheng at 0410-829-900 or hello@endurego.com for personalized assistance with your Job Keeper application.
