Jobkeeper 2.1 made two significant changes to Jobkeeper 2.0.
Two things changed from Jobkeeper 2.0 to 2.1. You no longer need a 30% drop in actual turnover in the June quarter. A 30% drop in the September quarter is enough.
And you can add employees to Jobkeeper who joined you between 13 March and 1 July 2020, starting Jobkeeper from 3 August 2020.
This is all – as Andrew Henshaw of Velocity in Sydney will tell you in this episode.
To listen while you drive, walk or work, just access the episode through a free podcast app on your mobile phone.
There are no rules yet for alternative turnover tests. And remember that all this – today on 13 August 2020 – is based on announcements. It isn’t law yet.
For Jobkeeper 2.0 there was a lot of leniency. If you expected a drop in turnover, got Jobkeeper but then actually increased your turnover – doesn’t matter, you can continue receiving Jobkeeper – it was an honest mistake. It seems that the main aim was to pump money into the economy. The ATO didn’t ask many questions.
But this will probably change. The aim now is to prop up the sickest of the sickest. And to wean the rest off the money drip. So the ATO will probably start to ask a lot more questions of businesses outside of Victoria claiming Jobkeeper 2.1.
Disclaimer: Tax Talks does not provide financial or tax advice. All information on Tax Talks is of a general nature only and might no longer be up to date or correct. You should seek professional accredited tax and financial advice when considering whether the information is suitable to your or your client’s circumstances.
Last Updated on 14 August 2020