JobKeeper

John_10600682
John_10600682 Member Posts: 20 Novice Member Novice Member
edited July 6 in Reckon Accounts (Desktop)
Can we continue to draw JobKeeper even though August and September turnover look like it is going to be much the same as last year but the over all drop since April will still be more than 30%

Comments

  • Kris_Williams
    Kris_Williams Member Posts: 4,201 Reckon Hall of Famer Reckon Hall of Famer
    edited July 2020
    In short I believe YES
  • John_10600682
    John_10600682 Member Posts: 20 Novice Member Novice Member
    edited July 2020
    Thank you for your assistance.
  • Lynne Meek
    Lynne Meek Member Posts: 7 Reckoner Reckoner
    edited July 2020
    The Tax Office say that we only have to qualify once, but they need to have our monthly figures just to see how our business is going.  Not sure what will come out of that!
  • Acctd4
    Acctd4 Accredited Partner Posts: 4,131 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited July 2020

    Hi John


    The “30% reduction in turnover” criteria only needs to be met ONCE for eligibility for the entire JobKeeper period (which - at this stage - is set to finish on 27 September 2020).

    The monthly reporting of predicted & actual turnover is purely for statistical purposes so that the Govt can determine how Australia’s economy is tracking.


    So yes …. as long as you meet that 30% turnover reduction for ONE month or ONE quarter, you can continue claiming JobKeeper for its duration.


    I hear of businesses that are struggling unnecessarily because they’re holding off from invoicing/receiving payment in fear of impacting their JobKeeper entitlement.  THIS IS NOT THE CASE so if you are able to do so, get your money in that’s owed to you :)

     


    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    shazinoz2@bigpond.com

    www.accounted4bs.com

    Shaz Hughes.png

    Email | Website | Google Reviews | Facebook Reviews

  • Lynne Meek
    Lynne Meek Member Posts: 7 Reckoner Reckoner
    edited July 2020
    Thank you, Shaz. I was worried that there might be implications down the track.
  • John_10600682
    John_10600682 Member Posts: 20 Novice Member Novice Member
    edited July 2020
    Thank you Shaz
  • Zappy
    Zappy Accredited Partner Posts: 5,227 Accredited Partner Accredited Partner
    edited July 2020
    This is NOT the place for tax advice. Ring your accountant. It's why you pay her
  • John_10600682
    John_10600682 Member Posts: 20 Novice Member Novice Member
    edited July 2020
    Point taken but I was not seeking tax advice only confirming the Government Policy.
  • Lynne Meek
    Lynne Meek Member Posts: 7 Reckoner Reckoner
    edited July 2020
    And I had my concerns addressed, also, as my accountant wasn't too sure.
  • Zappy
    Zappy Accredited Partner Posts: 5,227 Accredited Partner Accredited Partner
    edited July 2020
    Lynne then why are you paying her? It's her job. John I respectfully disagree. Jobkeeper is a minefield. You need to seek clarity everywhere. From a trusted source. No one here will be accountable if it goes pear shaped. You won't see them for dust.
  • Kris_Williams
    Kris_Williams Member Posts: 4,201 Reckon Hall of Famer Reckon Hall of Famer
    edited July 2020
    I usually go to the source and ring the tax dept.
  • Zappy
    Zappy Accredited Partner Posts: 5,227 Accredited Partner Accredited Partner
    edited July 2020
    And shared your belief with us. Good job.
  • Acctd4
    Acctd4 Accredited Partner Posts: 4,131 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited July 2020
    This is not "Tax Advice" Kevin (although I am actually a 17-yr tax consultant also)  Advice & assistance regarding the Govt Stimulus Packages all fall under "BAS Agent Services" as per the TPB.

    The majority of accountants have absolutely no idea about the specifics of these & indeed many are actually giving incorrect (& in some cases downright illegal!) advice to clients.  I have been (& still am) involved in extensive, ongoing discussions/workshops/seminars etc in all of these areas with the relevant organisations (including the ATO) to ensure the information I provide is accurate at that time.
    Shaz Hughes.png

    Email | Website | Google Reviews | Facebook Reviews

  • Zappy
    Zappy Accredited Partner Posts: 5,227 Accredited Partner Accredited Partner
    edited July 2020
    Yeah Shaz, it is. People with queries of this nature should be ringing the ATO. They are the ones administering the scheme. They should not be getting free advice from a software forum. When they ring they should also be getting a name and a receipt number. With the best will in the world your information could be incorrect, out of date or misinterpreted. I know I wouldn't take that responsibility. 
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