JobKeeper 2.0 ‘decline in turnover test’ – ATO Determination allows ‘actual’ turnover to be calculated on an ‘attribution’ timing basis

The ATO registered a legislative instrument, the Coronavirus Economic Response Package (Payments and Benefits) (Timing of Supplies Made and Decline in Turnover Test) Rules 2020 (No 1), on 16 September 2020 – to allow taxpayers to use the GST ‘attribution’ rules to calculate their actual ‘turnover’ for the ‘decline in turnover test – for the extended JobKeeper periods.

See below for details.

[Tax Month – September 2020]