There has been further details released on an updated Fact Sheet on the JobKeeper Payment.
We apologise to those of you who receive this note – that this payment may not apply to.
This method of delivery however is the quickest way we can provide an important update to those clients of ours that this may be relevant to. Feel free to pass this note onto anyone who you believe may benefit.
Updated [and highlighted] fact sheet can be found here.
Key points are:
We ask that you please read [and re-read] the attachment before making enquiries, as the attached is the latest information/detail we have available to us at this point.
- Sole traders are included
- Turnover [sales/income] needs to be compared to the month or three months [depending on the natural BAS reporting period of your business]
- If you were not in business a year ago, the business may still be eligible - the ATO has discretion to consider
- If the business income falls less than 30%, the business may still be eligible – tolerance provisions will exist
- If the comparative business income in the prior year was not representative of the usual income, the ATO has discretion to consider
- Number of eligible individuals to be reported per month
- Payments made monthly in arrears
- First payment in May 2020
Disclaimer: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information.