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Jobkeeper - Registered Charity & Commercial Landlord

Newbie

Views 542

Replies 1

Hi,

We report our BAS monthly on an accrual basis.  We have experienced a significant drop in receipts from our tenants, quite a few are not paying at all.  As we report on an accrual basis and the state legislation regarding rent relief has yet to be passed we are still charging our tenants rent at their usual rate.  Which will of course be adjusted, deferred or credited once the relevant legislation is passed.  However we indicated April as the month we would see the required fall in revenue when applying for the Jobkeeper Scheme but as we report our BAS on an accrual basis we are reporting what we are charging not what we are receiving which doesn't show the required fall.  How will this be viewed with regard to our Jobkeeper application?  Do we need to apply for an alternate test and if so please advise how we go about this?

 

Thanks

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 0

That's ok you can calculate your turnover using the cash method for the job keeper payment. Becuase you normally report using the accurals methods they may ask you for more information to understand your circumstances better.

See here https://www.ato.gov.au/General/JobKeeper-Payment/In-detail/Applying-the-turnover-test/?page=2
If you normally account for GST on an accruals basis, but seek to calculate on a cash basis (or vice versa), we may seek to understand your circumstances to ensure that the calculation achieves an appropriate reflection of your turnover.

1 REPLY 1

Most helpful response

Devotee

Replies 0

That's ok you can calculate your turnover using the cash method for the job keeper payment. Becuase you normally report using the accurals methods they may ask you for more information to understand your circumstances better.

See here https://www.ato.gov.au/General/JobKeeper-Payment/In-detail/Applying-the-turnover-test/?page=2
If you normally account for GST on an accruals basis, but seek to calculate on a cash basis (or vice versa), we may seek to understand your circumstances to ensure that the calculation achieves an appropriate reflection of your turnover.