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Re: Turnover test for my JobKeeper extension

Newbie

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Replies 1

Hi ato community,

Thank you very much for your replies to my priviours questions.
I am a sole trader. My income is not regular for every month.  For example on May 2020 I earned $3,400, on June 2020 I earned 0 dollar, on July 2020 I earned $10,164 and then on the month of August and September 2020 I earned 0 dollar. For the jobkeeper turnover test we decline income by quarter. Could I total my whole year income then divide it to 4 quarter to get the average income for each quarter. And could I use this method to decline my turn over test for jobkeeper extension for quarter July to September 2019? Thank you

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Community Support

Replies 0

Hi @lehuynh88,

 

There is an Alternative test you can apply when working out your decline in turnover. There are rules to be eligible to use this method, I have linked the page bellow. 

 

It will also give you instructions on how to calculate the turn over when using the Alternative test. It is a self assessment so you will need to read through the criteria.

 

Thank you

 

Links

Test for a business that has an irregular turnover

 

1 REPLY 1

Most helpful response

ATO Community Support

Replies 0

Hi @lehuynh88,

 

There is an Alternative test you can apply when working out your decline in turnover. There are rules to be eligible to use this method, I have linked the page bellow. 

 

It will also give you instructions on how to calculate the turn over when using the Alternative test. It is a self assessment so you will need to read through the criteria.

 

Thank you

 

Links

Test for a business that has an irregular turnover