The Federal Government’s JobKeeper program is designed to provide valuable financial support to businesses and individuals. For many entities, eligibility is assessed through the “basic test” – an approach reliant upon a demonstrable reduction in GST turnover.
This approach does not account for a range of businesses including start-sups, restructured entities and those with cyclical demand.
Pleasingly, the Australian Taxation Office has announced that entities unable to meet the basic test have an alternative method to assess eligibility for the JobKeeper program.
Learn more about the alternative test and how it may apply to your business.
This webinar recording covers implications for businesses that:
- commenced after the comparison period
- have acquired or disposed of businesses during the comparison period
- have been recently restructured
- have experienced substantial changes in turnover during the comparison period
- have irregular turnover
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