Taxation, investments, small business Accounting and advice, superannuation - Jamiesons Chartered Accountants
 

Good news for trusts!!

The ATO has confirmed that the following will be eligible to claim the JobKeeper payment of $1500 per fortnight:

  • Beneficiary of a Trust (one per Trust)
  • Partner in a partnership (one per partnership)
  • Sole trader
  • Shareholder or Director in a company (if not already employee)

This only applies if there has been a 30% drop in GST Turnover

To work out your fall in turnover, you can compare either:

  • GST turnover for March 2020 with GST turnover for March 2019
  • projected GST turnover for April 2020 with GST turnover for April 2019
  • projected GST turnover for the quarter starting April 2020 with GST turnover for the quarter starting April 2019.

Please see other conditions on this link https://www.ato.gov.au/General/JobKeeper-Payment/Sole-traders-and-other-entities/


Please do not hesitate to contact us to discuss any of the above.   

 

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