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Re: Jobkeeper

Newbie

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Replies 1

Hi,

 

Regarding Jobkeeper 1.0 (March 28 to Sept 28) - just want to ask a question about the eligibility of this. I understand that to be eligible the business need to show a decline in turnover of 30% for the month of April 2020 compared to April 2019.

 

My question is what accounting method should this be based on? I have a client who is on a cash basis for doing BAS.. - but for the turnover test, she uses accrual method. The client have passed the test. Is this wrong? She has received all 6 months of Jobkeeper. What should she do? Is there a consequence? She has asked the ATO regarding which method she should use, and the ATO said that she could choose the method and it doesn't have to be based on the GST accounting method. Im very confused. Is this correct?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Community Support

Replies 0

Hi @Zoey1790

 

 

For JobKeeper 1.0 the definition has been more flexible here as per the heading

Modifications to projected and current GST turnover so it was allowed. However going forward for JobKeeper 2.0 it is more exacting.

 

 

1 REPLY 1

Most helpful response

ATO Community Support

Replies 0

Hi @Zoey1790

 

 

For JobKeeper 1.0 the definition has been more flexible here as per the heading

Modifications to projected and current GST turnover so it was allowed. However going forward for JobKeeper 2.0 it is more exacting.