Job Keeper Scheme (Australia)

UPDATED: 7 April 2020

If your business turnover (revenue) has fallen by more than 30 per cent (of at least a month) you can now access a subsidy from the Australian Government to continue paying your employees.  

Employers are able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months.  

 Register Now 

UPDATED 1 Apr: For more info see - Job Keeper Subsidy - Information for Employers
UPDATED 7 Apr: Treasury has now released an updated frequently asked questions fact sheet on the proposed JobKeeper payments.

Use BI Comparison Reports to Confirm Turnover/(Revenue) Decline

Bi4Cloud Comparison reports can be used to Compare data to any prior period. This will help to alert you as soon as your revenue drops 30% and you are eligible to apply for the Job Keeper Scheme.

Most businesses would be expected to establish that their turnover has fallen by 30% in the relevant month or three months relative to their turnover a year earlier.

UPDATED: Where the business is a new operation or is a high growth business, the business can provide additional information to establish that they have been adversely affected by the impacts of the Coronavirus.

Turnover is all ordinary income you earned in the ordinary course of running a business for the income period. (ATO definition). Turnover is further defined according to the current calculation for GST purposes and is reported on Business Activity Statements. It includes all taxable supplies and all GST free supplies but not input taxed supplies.

See the following new Favourite Reports.  Learn more about using Comparison reports.

Sales (Invoice) Comparison to PYR - Job Keeper

This report runs over Invoice Sales Data ex gst (MYOB Services & Item Sales only). The standard report is setup to compare sales over:
- Last Month v Last Month Last Year
- March 2020 v March 2019  -Custom date range use to enter in ANY comparable dates
- Note Invoiced Sales may not equal Turnover for some businesses

Sales_-_Inv_Comparison.png

Sales (GL) Comparison to PYR - Job Keeper

This report runs over GL P&L Data (General Ledger). The standard report is setup to compare revenue over:

- Last Month v Last Month Last Year
- March 2020 v March 2019  - Custom date range use to enter in ANY comparable dates
- This report is filtered to ONLY show GL Accounts that are Income type 
- Check that each income account qualifies as Turnover under the definition above, filter to exclude any accounts that do not qualify e.g. Proceeds from selling business capital assets

Revenue_GL_Comparison.png

Click on the Compare icon to change Date ranges or to add in additional date ranges.

Compare_Revenue_-_GL.png

Provide this report to your Accountant to have them check you qualify.

BI4Cloud.com

 

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