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JobKeeper GST Turnover

Newbie

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We enrolled for JobKeeper based on April turnover v 2019 which was 31% decline.  However today I have run the same report and have found the turnover is $5,000 more and therefore the % downturn is now 27.9%.  After investigating, I found an income amount had been mistakenly coded incorrectly.  What should I do?  Does this mean we should opt out of JobKeeper?  Will the business have to pay back funds received?  This is a genuine mistake due to bank feed rules and not picked up until now.

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Devotee

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Phone and speak to ATO

You may still be eligible under the anticipated fall in turnover provision

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

Question: What happens if my predicted fall in turnover happens to be incorrect, so that the fall ends up being less than the 30% or 50%?

Answer: This does not necessarily mean you are ineligible for JobKeeper.

Your projected GST turnover is a point-in-time test and needs to be a reasonable assessment of what was likely at the time you calculated the test. If, at a later stage, it eventuates that your actual turnover for your test period is greater than your prediction of your projected turnover, you do not lose access to JobKeeper. We will accept your assessment of these turnovers unless we have reason to believe that your calculation of your projected GST turnover was not reasonable.

If there is a significant difference between your projected turnover and what eventuates, we may need to assess whether your assessment was reasonable, so you need to keep good records of your calculations.

Integrity rules are in place to deny or reduce an entitlement to JobKeeper payments if schemes are contrived to ensure payment conditions are satisfied, such as temporarily reducing or deferring turnover. Exceeding your turnover predictions by itself does not trigger these integrity rules.

Our compliance focus will be particularly directed toward schemes where there has not been a genuine fall in turnover in substance, but arrangements are contrived to ensure the turnover test is satisfied.

2 REPLIES 2

Most helpful response

Devotee

Replies 1

Phone and speak to ATO

You may still be eligible under the anticipated fall in turnover provision

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

Question: What happens if my predicted fall in turnover happens to be incorrect, so that the fall ends up being less than the 30% or 50%?

Answer: This does not necessarily mean you are ineligible for JobKeeper.

Your projected GST turnover is a point-in-time test and needs to be a reasonable assessment of what was likely at the time you calculated the test. If, at a later stage, it eventuates that your actual turnover for your test period is greater than your prediction of your projected turnover, you do not lose access to JobKeeper. We will accept your assessment of these turnovers unless we have reason to believe that your calculation of your projected GST turnover was not reasonable.

If there is a significant difference between your projected turnover and what eventuates, we may need to assess whether your assessment was reasonable, so you need to keep good records of your calculations.

Integrity rules are in place to deny or reduce an entitlement to JobKeeper payments if schemes are contrived to ensure payment conditions are satisfied, such as temporarily reducing or deferring turnover. Exceeding your turnover predictions by itself does not trigger these integrity rules.

Our compliance focus will be particularly directed toward schemes where there has not been a genuine fall in turnover in substance, but arrangements are contrived to ensure the turnover test is satisfied.

Newbie

Replies 0

Thank you for your response KatieAcacia.  I've been feeling sick about this and did find that same information you posted, over the weekend, which has relieved my stress a little.  I will follow up.