Your Monthly Download from ABA – September 2020

JobKeeper 1 ends

JobKeeper (JK) 1 stops as of 27th September so all payments for JK 1, Fortnight 13 need to be paid by 27th September and then make the Monthly Declaration by 14th October to receive the Subsidy.

JobKeeper 2 – the Wage subsidy

Decline in Turnover

To be eligible for the JK 2 wage subsidy, an employer must have suffered a 30% decline in actual GST Turnover for the Quarter ended 30th September 2020 (as compared to the Quarter ended 30th September 2019). They also had to be eligible for JK1 (whether they actually enrolled and received JK 1 payments or not, all the eligibility tests for JK1 apply). When determining the Decline in Turnover the same type of alternative tests will be available as were in place for JK 1. Businesses on monthly BAS add the 3 months together, Non-GST registered businesses or Annual Reported use the “GST Turnover” definition and calculate for Quarterly.

JobKeeper 1.0 changes into 2.0

You can get your free Accounts & Books Assist download here.

Send download link to:

Thank you,

Leanne & the ABA Team

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