If your business is receiving the NSW JobSaver Payment, you will now need to pass the decline in turnover test each fortnight to continue to receive payments. This additional requirement will apply to the fortnight ending 26 September 2021 and subsequent fortnights.
Service NSW requires recipients of JobSaver payments to login to their Service NSW account and confirm that they have:
- Maintained their employee headcount; and
- Continued to experience a decline in turnover of at least 30%.
For the first of the new test periods, you will need to compare turnover for the period 13 to 26 September 2021 to one of the following periods depending on your initial JobSaver application:
- Where you used 2019 as the base period on your initial JobSaver application - 13 to 26 September 2019.
- Where you used 2020 as the base period on your initial JobSaver application - 13 to 26 September 2020
- Where you used the two weeks immediately before the NSW restrictions as the base period on your initial JobSaver application - 12 June to 25 June 2021.
The decline in turnover test is based on actual turnover (not projected turnover), meaning that you will need to wait until after 26 September to confirm your decline in turnover.
The decline in turnover test is calculated on the same basis as you report GST to the Australian Taxation Office, i.e. if you prepare your BAS on a cash basis, then the decline in turnover test is calculated on a cash basis. Where you prepare your BAS on the accruals basis, you calculate your decline in turnover on the accruals basis.
Where your employee headcount has fallen for reasons outside of your control, for example where an employee voluntarily resigns, you will continue to meet the employee headcount requirement.
For further information on the JobSaver Payment please see the below links
- Apply online
- COVID-19 JobSaver Payment Guidelines
- Moore Article (note there have been amendments to the rules since this article was published)
If you receive the NSW Micro-Business Grant, you will also need to meet the decline in turnover test above.
For further information on the Micro-Business Payment please see the below links
Applications for NSW COVID-19 Business Grant which provides a one-off payment of up to $15,000 were originally scheduled to close at on 13 September. The closing date has now been extended to 1 October.
For further information on the Business Grant please see the below links
This article is issued as general commentary - please contact us about your specific circumstances.