Sighting integrity issues, the NSW Government has introduced retesting requirements for businesses to continue to avail JobSaver and Micro-business Grant payments.
At a Glance
Testing your current decline in turnover (for each relevant fortnight)
Those who had originally tested drop in turnover
comparing it with the turnover from 12-25 June 2021
Steps :
1. Calculate your current fortnight turnover (excluding GST) (for example, the first fortnight to be tested for JobSaver would be 13 September to 26 September 2021) .
2. Compare the drop in turnover with the turnover calculated originally for 12 June 2021 to 25 June 2021.
3. If the drop in turnover is 30% or more, complete the online declaration confirming your eligibility to receive payment of the relevant fortnight (in this example fortnight 13 September to 26 September).
4. If the drop in turnover is less than 30%, complete the online declaration confirming your ineligibility, so you can then proceed to next fortnight's declaration.
Those who had originally tested drop in turnover
comparing it with turnover of corresponding period in 2019 or 2020
Steps - Option 1 (rolling comparison period) :
1. Calculate your current fortnight turnover (excluding GST) (for example, the first fortnight to be tested for JobSaver would be 13 September to 26 September 2021).
2. Check what year was used for comparison in original application (say it was 2019).
3. Compare the drop in turnover with the corresponding turnover of the original application year (in this example, compare your current turnover with turnover of 13 September to 26 September of 2019).
4. If the drop in turnover is 30% or more, complete the online declaration confirming your eligibility to receive payment of the relevant fortnight (in this example fortnight 13 September to 26 September)
5. If the drop in turnover is less than 30%, complete the online declaration confirming your ineligibility, so you can then proceed to next fortnight's declaration.
Steps - Option 2 (static comparison period) :
1. Calculate your current fortnight turnover (excluding GST) (for example, the first fortnight to be tested for JobSaver would be 13 September to 26 September 2021).
2. Compare the drop in turnover with the turnover calculated originally in your initial application (of 2019 or 2020 as was originally chosen).
3. If the drop in turnover is 30% or more, complete the online declaration confirming your eligibility to receive payment of the relevant fortnight (in this example fortnight 13 September to 26 September)
4. If the drop in turnover is less than 30%, complete the online declaration confirming your ineligibility, so you can then proceed to next fortnight's declaration.
You can choose either Option 1 or Option 2 for the first retesting period. Once chosen, the same option will need to be chosen for all future retesting periods.
Further details and helpful examples can be sourced from The Tax Institute's publication here. Please contact us should require any assistance. ease
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