Business
JobKeeper changes could push recovering businesses off wage subsidy – Sydney Morning Herald
Accountants and tax experts are warning tighter eligibility tests for JobKeeper mean businesses could lose the wage subsidy permanently if they start to recover even if lockdowns are reintroduced.
The wording of the new turnover test requires a decline in “both” the June and September quarters in 2020 compared with the same periods in 2019 to qualify for the scheme from September 28 to January 3, Mr Croker said.
To continue receiving the payment from January 4 to March 28, businesses would have to show a drop in the June, September and December quarters.
“If you’re in an up and down type industry, it’s more difficult to satisfy the decline test for successive quarters. If you have a boo…
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