JobKeeper Eligibility Update

The ATO wants to make sure you have done some research from an eligibility perspective, documenting why you believe you are eligible.

The ATO have said that any attempts to defraud or fiddle with the numbers so that your business becomes eligible won’t be taken lightly and will take firm action if they believe you’ve done this.

On the other hand, let’s say you’re estimating your eligibility for the June quarter and instead of being 35% downturn, you’re only 28% downturn, the ATO will ask you to document why you estimated the original downturn and what happened to make it only 28%.

Now let’s say you turn out to be ineligible but close to eligibility (like the case of 28% downturn, not 30%). We’ve seen guidance that the ATO might consider your JobKeeper payments are ok to go through anyway. If you’ve legitimately tried to do the right thing and it happens that you have just missed out, so technically not eligible, they might let you keep the payments anyway. We’ll know more as the ATO releases guidance.

If you need help with JobKeeper book a strategy call with one of our accountants: https://calendly.com/inspireca/strategycall