Enrolment for JobKeeper opens today….. over the weekend the ATO has released the inner workings of the Turnover Test, enabling employers to be eligible. Key points below:
- For qualification from the start of the scheme, the turnover month used can be either March 2020 or April 2020.
- To qualify at a later time, the turnover month can also be May, June, July, August or September 2020. In other words, you will only be eligible for JobKeeper payments for JobKeeper fortnights that end on or after your turnover test period starts.
Lastly, the ATO may determine an alternative test for fall in turnover for a class of entities where there is not an appropriate relevant comparison period. This can cover start-ups or businesses impacted by natural disaster for example. The ATO is set to release more information on this in the coming days.
Please contact us if you wish to discuss the specifics on how this applies to you.