NTAA - JobKeeper 2.0 Alternative Decline in Turnover Tests

• Alternative decline in turnover tests for new businesses

• Alternative decline in turnover test for businesses with a substantial increase in turnover

• Alternative decline in turnover test for businesses with an irregular turnover

• Alternative decline in turnover test for businesses affected by drought or natural disaster

• Alternative decline in turnover test where acquisition or disposal changed turnover

• Alternative decline in turnover test where business restructure changed the entity’s turnover

• Alternative test for sole traders or small partnerships with sickness, injury or leave

Click here for document: NTAA - JobKeeper 2.0 Alternative Decline in Turnover Tests

NTAA - Determining actual decline in turnover under JobKeeper 2.0

• TAX WARNING – GST attribution

• Determining the correct GST accounting method – cash or non-cash basis?

• TAX TIP – Including supplies that are not taxable supplies

• Calculating actual (current) GST turnover

Click here for document: NTAA - Determining actual decline in turnover under JobKeeper 2.0

NTAA 10% decline in turnover certificate template for ‘legacy employers’

NTAA 10% decline in turnover certificate template for ‘legacy employers’

• Extension period 1 – which covers the seven new JobKeeper fortnights that commence on 28 September 2020 and end on 3 January 2021

• Extension period 2 – which covers the six new JobKeeper fortnights that commence on 4

  January 2021 and end on 28 March 2021.

• Legacy employers – 10% decline in turnover test

Click here for document: NTAA 10% decline in turnover certificate template for ‘legacy employers’

NTAA Extension of JobKeeper Payment

New rules for the extension of the JobKeeper Payment (JobKeeper 2.0)

• Extension of the JobKeeper to 28 March 2021

• Decline in turnover test – the new actual GST decline in turnover test

• Wage condition for employees

• Eligible business participants

• Notification requirements

Click here for document: NTAA Extension of JobKeeper Payment

NTAA Practice Update - September 2020

• Superannuation guarantee rate increase update

• Superannuation guarantee amnesty ends 7 September 2020

• JobKeeper 2.0 - tweaks to the 'Decline in Turnover' Tests

• Expanded eligible employee definition for JobKeeper

Click here for document: NTAA Practice Update - September 2020

NTAA - JobKeeper 3.0

• Extension period 1

• Extension period 2

• Adjustments to employee eligibility

• Adjustments to the ‘Decline in Turnover Test’

Click here for document NTAA - JobKeeper 3.0