JobKeeper Action Required: Due Now: October 2020 Turnover Declaration
Call to action for all JobKeeper extension eligible businesses. Yesterday, the ATO released the new JobKeeper turnover declaration which needs to be completed in order to receive your next round of JobKeeper Payments.
PLEASE NOTE: The Jobkeeper extension is also commonly referred to as JobKeeper 2.0. In order to be eligible for the JobKeeper extension for the period 28th of September 2020 to 3rd of January 2021, your business must pass new eligibility requirements and the ATO must be notified of the eligible turnover test and numbers before they will issue any refunds.
Please click here (or click the picture below) if you are eligible for the JobKeeper extension and would like Suntax to complete the October 2020 JobKeeper declaration for you.
If you wish to complete this declaration yourself, you will need to log onto ATO Online Services, notify the ATO of your eligibility under the specific tests and then submit the JobKeeper declaration.
New Jobkeeper Extension Tests
To qualify for this JobKeeper Extension, a business must have experienced a decline in GST turnover of 30% or more for the September 2020 quarter compared to the September 2019 quarter, as reported on their BAS’s. If this test is not passed, there are alternate tests that may help with your eligibility including:-
- Irregular Turnover Test
- Substantial Increase in GST Turnover Test
- Business Commenced Test
- Business Acquisition or Disposal that Changed the Entity's current GST Turnover
- Business Restructure that changed the Entity's current GST Turnover
- Business Affected by Drought or Natural Disaster
- Sole Trader or Small Partnership with Sickness, Injury or Leave
More information on these tests can be found by clicking here. These tests are complex and if you need help, Suntax can help assess your eligibility for $220 by clicking this link. All businesses must disclose their turnover calculations to the ATO before you can receive JobKeeper Extension payments.
A strict deadline has now been set for the monthly declaration to be completed. If you have not lodged your monthly declaration by the 14th of each month or you WILL NOT receive the previous months JobKeeper payments.
While we are still working with Jobkeeper, it is important to remember that yesterday we celebrated the first day in 6 months that Australia has not had any community transmissions of Covid-19 which is an amazing result compared to our international counterparts.
We are so impressed with the resilience you have all shown through this pandemic and it really shows the true Australian entrepreneurial spirit shining through. Lets hope for a fantastic lead up to Christmas, filled with strong consumer spending, dinners with our family and friends and a festive Christmas filled with fun, laughs and happy times.
You are all part of our Suntax family and we look forward to seeing you soon.
Your Suntax Family
Your Jobkeeper 2.0 experts!