JobKeeper

John
John Member Posts: 22
edited July 2020 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: 2,451 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited July 2020
    In short I believe YES
  • John
    John Member Posts: 22
    edited July 2020
    Thank you for your assistance.
  • Lynne Meek
    Lynne Meek Member Posts: 12
    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: 2,005 Reckon Accounts Hosted 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

    [email protected]

    www.accounted4bs.com

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015) * ICB-Certified Bookkeeper * Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • Lynne Meek
    Lynne Meek Member Posts: 12
    edited July 2020
    Thank you, Shaz. I was worried that there might be implications down the track.
  • John
    John Member Posts: 22
    edited July 2020
    Thank you Shaz
  • John
    John Member Posts: 22
    edited July 2020
    Point taken but I was not seeking tax advice only confirming the Government Policy.
  • Lynne Meek
    Lynne Meek Member Posts: 12
    edited July 2020
    And I had my concerns addressed, also, as my accountant wasn't too sure.
  • Kris_Williams
    Kris_Williams Member Posts: 2,451 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited July 2020
    I usually go to the source and ring the tax dept.
  • Acctd4
    Acctd4 Accredited Partner Posts: 2,005 Reckon Accounts Hosted 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 Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015) * ICB-Certified Bookkeeper * Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    [email protected]

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)