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What is CURRENT GST Turnover

I'm new

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Hi, I am filling out the Job Keeper Business Monthly Declaration. In the GST Turnover section it asks for Current April GST Turnover and Projected May GST Turnover. I'm OK with the Projected May GST Turnover but is the Current April GST Turnover the turnover for April last year or this year? From the instructions it seemed like it should be last year. Don't want to make a mistake. Can anyone help? Thanks.

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Most helpful response

Devotee

Replies 4

Hello,

 

The April Current GST turnover amount is your GST turnover amount for the reporting month. The reporting month is the month is which there is a fortnight for which the entity is entitled to a jobkeeper payment. Therefore this would be April 2020, not 2019 as there was no Jobkeeper fortnight entitlement in 2019.

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Most helpful response

Devotee

Replies 4

Hello,

 

The April Current GST turnover amount is your GST turnover amount for the reporting month. The reporting month is the month is which there is a fortnight for which the entity is entitled to a jobkeeper payment. Therefore this would be April 2020, not 2019 as there was no Jobkeeper fortnight entitlement in 2019.

I'm new

Replies 1

Thanks. That's what I ended up submitting. The ATO Basic Test guide is misleading or outright wrong for this application

 

FitnessCo recorded the following transactions in April 2019:

Gym membership fees excluding GST

$10 million

Sales of home delivered meals excluding GST

$5 million

Bank interest

$3 million

Sale of real property outside Australia

$30 million

Supply made to a member of the GST group

$10 million

The current GST turnover for the relevant comparison period would be $25 million.

Devotee

Replies 0

Hello,

 

This calculation is to work out your current GST turnover for the comparision period (which would be for previous year). The rules for JobKeeper regarding monthly declaration (in legislation) say that 'current GST turnover for reporting month' refers to month in which there is a fortnight for which an entity is entitled to a jobkeeper payment. I read this as meaning April 2020, as like I said, there is no jobkeeper fortnight in 2019 year. Hope this makes sense.

Initiate

Replies 1

Hello,
In current GST turnover, do we have to report including GST or less GST?. For example, if someone earns $6,500 inc GST in month of May, do we need to report as $5,909 ($6,500 - $591) or include GST as $6,500.

ATO Community Support

Replies 0

Hi @Aliijan,

 

Thank you for your reply. The website advises - Projected GST turnover and current GST turnover exclude the following:

  • GST you included in sales to your customers (if any)
  • sales that are input taxed sales (for example, bank interest, sale of shares, residential rental income)
  • sales not connected with an enterprise that you carry on (for example, sale of private car)
  • sales that are not made for payment (unless a taxable supply to an associate)
  • payments for no supply (for example, JobKeeper payments)
  • gifts and donations (except for deductible gift recipients and ACNC-registered charities as discussed above)
  • sales not connected with Australia, for example
    • sales of services made through a business you carry on outside Australia
    • sales of goods purchased and sold from a place outside Australia
    • sale of real property situated outside Australia.

Instructions for completing JobKeeper enrolment and the monthly declaration are available online.

 

Hope this helps.

 

Regards,

Jodie2.