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Job Keeper - Sole trader, calculation of 30% revenue reduction

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Newbie

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What is the most appropriate way to calculate the reduction in revenue for a sole trader business whose business premises and scale is different from 12 months ago? Does the comparison for reveune have to be against figures from 12months ago or can more recent figures which reflect the pre/post C-19 effects be submitted?  

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Good morning @Wanganella15 

I hope you have had a great weekend. I understand there is a lot of information around at the moment and understand it can be confusing. I have been able to find the following information on the Department of Treasury website on the Employer factsheet.

 

To establish that a business has faced either a 30 (or 50) per cent fall in their turnover, most businesses would be expected to establish that their turnover has fallen in the relevant month or three months (depending on the natural activity statement reporting period of that business) relative to their turnover a year earlier.

 

The payment is still being discussed in Parliament so there are things we don't know yet and there could be changes before the payment becomes law. 

 

While we can't provide you with a clear answer to your question right now, you can register for updates through our website and we'll contact you when we know more. We'll also update our Jobkeeper payment article

 

I hope this information has been useful at this time.

 

Kind Regards,

AngelaG

2 REPLIES 2
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I'm new

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i have been looking for details around this too and they don't seem to exist yet.   Parliament is meeting about it this week, on Wednesday so I don't think you will get an answer until thursday at the earliest.

Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Good morning @Wanganella15 

I hope you have had a great weekend. I understand there is a lot of information around at the moment and understand it can be confusing. I have been able to find the following information on the Department of Treasury website on the Employer factsheet.

 

To establish that a business has faced either a 30 (or 50) per cent fall in their turnover, most businesses would be expected to establish that their turnover has fallen in the relevant month or three months (depending on the natural activity statement reporting period of that business) relative to their turnover a year earlier.

 

The payment is still being discussed in Parliament so there are things we don't know yet and there could be changes before the payment becomes law. 

 

While we can't provide you with a clear answer to your question right now, you can register for updates through our website and we'll contact you when we know more. We'll also update our Jobkeeper payment article

 

I hope this information has been useful at this time.

 

Kind Regards,

AngelaG