Wise Accounting Podcast (wap)

Welcome back the podcast! In this episode we cover off the latest JobKeeper developments, the SGC amnesty and that lodgement extensions ar enot really extensions at all. On Friday the 24th of April the treasurer carved out full time students aged 16 and 17 from the JobKeeper system. This was a moving forward approach and therefore any payment made in advance of this date will still qualify for the JobKeeper reimbursement. The JobKeeper alternative test has been announced. If you cannot satisfy the basic test, which is a reduction or expected reduction in GST turnover, then the alternative turnover test can be applied for: a. Entities that have newly commenced business such that there is no relevant comparison period in 2019 b. Entities that acquired or sold part of their business which affected turnover c. Where there was a restructure of the business that affected turnover d. Where a business experienced rapid growth in turnover such that its projected turnover is not comparable to the 2019 period e. The bus