JobKeeper Stimulus Package

Legislation has yet to be released on the $130 billion JobKeeper payment stimulus package.

Temporary Measures

As a temporary measure, Federal Government Treasury updated its fact sheet, giving the ATO discretion when determining entitlement.

An example of discretion would be a business that is unable to demonstrate impact through turnover reduction test. If a business has only operated for six months, it may find it difficult to link reduced turnover to a similar period the previous year.

Additional Eligibility Tests

Further, the ATO will also set out alternative tests to consider eligibility for specific circumstances, for example, where businesses have put their business into hibernation.

Presently, many questions surrounding the JobKeeper system remain. The updated Treasury fact sheet offers some guidance on eligibility. We expect additional clarity over the coming week.