Institute of Certified Bookkeepers
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JobKeeper Decline in Turnover Query

  • Member in Practice
  • Practice Certificate
  • 2 posts
  • # 118903

I have some queries regarding the JobKeeper turnover tests/lodgements that I’m hoping someone can clarify for me.  I have read through the information provided, but I’m finding it hard to decipher, so hoping someone might be able to answer here & direct me to the appropriate document that outlines the answers.

Firstly, if an entity qualifies for JobKeeper in July, but is expecting an increase in income in August, then a possible drop in September – Does the business need to opt out of the program after claiming for July, or do you just keep going with it?

Secondly, if the entity’s total for the quarter Jul-Sep is projected as 30% decline, is it ok to keep lodging each month?

I’m a little unclear of these types of scenario’s where 1 month will not be 30% down in income.

  • Fellow in Practice
  • Practice Certificate
  • 277 posts
  • # 118904

Once a business qualifies in a month for Jobkeeper they are in and in for the duration even if the income starts to go up.

 

If you are struggling with the tests and you are unsure, recommend liaising with the Tax Agent regarding the figures and for confirmation

  • Member in Practice
  • Practice Certificate
  • 2 posts
  • # 118905

PaulineWalton said:

Once a business qualifies in a month for Jobkeeper they are in and in for the duration even if the income starts to go up.

 

If you are struggling with the tests and you are unsure, recommend liaising with the Tax Agent regarding the figures and for confirmation


 Thanks Pauline.  The accountant is saying we have to cancel JobKeeper as soon as a month goes over the 30% decline in income, so this is why I thought I'd ask here.  I'm not sure what they're saying is correct.

  • Fellow in Practice
  • Practice Certificate
  • 277 posts
  • # 118907

HI

 

Here is the ATO link that advises you dont need to retest 

https://www.ato.gov.au/General/JobKeeper-Payment/In-detail/Employers--frequently-asked-JobKeeper-questions/

 

  • Associate in Practice
  • Practice Certificate
  • 3 posts
  • # 118939

I have a question about the job keeper extension 

i am declaring job keeper on an accural basis at the moment , but i lodge BAS on a cash basis 

i have read that with the extension we have to report the same as  we lodge BAS but i spoke to an accounting firm today and they said that the jobkeeper extension will be on an accural basis aswell 

is this misleading information from the accounts firm?

  • Fellow in Practice
  • Practice Certificate
  • 277 posts
  • # 118950

Hi JDBookkepers

 

You are correct at this point in the time.  The Government have stipulated for Jobkeeper 2 that it must be as per the BAS so if BAS is cash then the decline is Cash.  However law and legislation has not been passed yet and thing may change but that is the thoughts from government at this time

  • 34 posts
  • # 119039

You may have heard already, but to access JobKeeper payments, SMEs must pass a 'turnover' test, which shows their revenue has declined by at least 30% on a comparable period a year ago. 

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