Commissioner registers new JobKeeper alternative test
The Commissioner of Taxation has now registered additional alternative decline in turnover tests where there is not an appropriate relevant comparison period in 2019 because the entity temporarily ceased trading and were not trading for some or all of the relevant comparison period.
The Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Amendment Rules 2020 sets out two alternative tests where trading ceased due to events or circumstances outside of the ordinary course of business.
Read more at the Accountants Daily.
