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Re: Jobkeeper Extension 2

I'm new

Views 325

Replies 4

We will qualify for extension 2 with a 30% decline in turnover for October-Dec and are projectibg a decline in turnover for Jan-Mar but am wondering what happens if we dont have an actual decline in turnover in January, Feb, March?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 2

Once you qualify based on December quarter decline, turnover in march quarter does not affect eligibility

4 REPLIES 4

Most helpful response

Devotee

Replies 2

Once you qualify based on December quarter decline, turnover in march quarter does not affect eligibility

Newbie

Replies 1

is this test based on quarter only, or do we have to actual turnover drop each month? what happens if we have one month turnover increased, and but the whole December 2020 Qtr still dropped by 30%?

 

here is words from ATO website: 

"JobKeeper Extension 2 – 4 January 2021 to 28 March 2021

The actual decline in turnover test is satisfied for extension 2 when your current GST turnover for the quarter ending 31 December 2020 (the months of October, November and December) has declined by the specified shortfall percentage (15%, 30% or 50%) in comparison to your current GST turnover for the quarter ending 31 December 2019."

ATO Community Support

Replies 0

Hi @marcoli,

 

As the exert you included from the website states, you only need to show an actual decline in turnover across the full quarter of October, November, December 2020 in order to qualify for extension 2 (4 January to 28 March). You don't need to show a decline in turnover for each month ongoing to continue to qualify.

 

If your turnover increases in the January to March period, then that's fantastic! It won't change your eligibility for JobKeeper during this time, so long as you show the required actual decline in turnover for the December quarter 2020.

Devotee

Replies 0

JK 2.0 and 3.0 have nothing to do with projected turnover, so whether  your projections are right or wrong is irrelevant.

Only ACTUAL turnover decline is relevant.