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Eligibility to for Job Keeper (Employer) - New Start up Business

This post is archived and may not be up-to-date.

Dynamo

Views 877

Replies 1

Dear ATO

 

My partner and I started up our own business from 1st January 2020.   We have been trading for three months and employ 1 full time staff member and 1 part timer.   We want to keep paying their wages (regardless of work) as at the other side of this we want business to continue.   We have invested to much money into our start up to just close the doors.    In the factsheet provided attached today it wants comparable profits from one year to another.   We only have Profit and Loss reports for Jan, Feb and March and our bookings for April are already down so we will most likely end up with mininimal sales.   Does this mean as a start up business that has no trading figures a year ago is not eliable?

 

JOBKEEPER PAYMENT — INFORMATION FOR EMPLOYERS

Employers will be eligible for the subsidy if:

Their business has a turnover of less than $1 billion and their turnover will be reduced by more than
30 per cent relative to a comparable period a year ago (of at least a month); or

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 0

That's great to hear that you are doing all you can to keep your business going and staff employed with all thats going on. It's important to remember that the government is still figuring out how they will handle this and then they still need to make it law. I think there's a few people out there in the same situation that you are in and im sure the government is taking these things into consideration. I found this on the treasury website

 

  1. Where a business was not in operation a year earlier, or where their turnover a year earlier was not representative of their usual or average turnover, (e.g. because there was a large interim acquisition, they were newly established or their turnover is typically highly variable) the Tax Commissioner will have discretion to consider additional information that the business can provide to establish that they have been significantly affected by the impacts of the Coronavirus. The Tax Commissioner will also have discretion to set out alternative tests that would establish eligibility in specific circumstances (e.g. eligibility may be established as soon as a business has ceased or significantly curtailed its operations).

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employers_3.pdf

1 REPLY 1

Most helpful response

Devotee

Replies 0

That's great to hear that you are doing all you can to keep your business going and staff employed with all thats going on. It's important to remember that the government is still figuring out how they will handle this and then they still need to make it law. I think there's a few people out there in the same situation that you are in and im sure the government is taking these things into consideration. I found this on the treasury website

 

  1. Where a business was not in operation a year earlier, or where their turnover a year earlier was not representative of their usual or average turnover, (e.g. because there was a large interim acquisition, they were newly established or their turnover is typically highly variable) the Tax Commissioner will have discretion to consider additional information that the business can provide to establish that they have been significantly affected by the impacts of the Coronavirus. The Tax Commissioner will also have discretion to set out alternative tests that would establish eligibility in specific circumstances (e.g. eligibility may be established as soon as a business has ceased or significantly curtailed its operations).

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employers_3.pdf