Question I have a question about the JobKeeper extension. Can you still get JobKeeper part 2 if you have an actual drop in turnover of 29%? Answer The requirement is 30%. Given you are so close to the required turnover decline carefully consider: The definition is GST turnover, so we are dealing with taxable supplies Carefully peruse for non-assessable deposits …
JobKeep Extension Query
Question I have a client who was operating a gym business as a sole trader when COVID-19 hit. He qualified for JobKeeper as an Eligible Business Participant and we are now looking to see if he will qualify for the Extension to JobKeeper. As his gym business income fell, he found a new type of business to get involved in. …
Taxation Query
Question: Thank you for your latest glossy Tax Essentials Manual. I have some questions regarding tax returns that are now due. Page 2 of Losses Schedule. Do we need to satisfy the ‘business continuity test, what is the test? What is a ‘superannuation income stream’, Item 7 In Tax return for individuals? Are we required to lodge a ‘reportable tax …