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HI Johnno,sorry to hear. If you acquired in March 20 and used...

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jonkey1995

3,883 Posts.

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25/09/20

09:50

Post #: 47619673
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Originally posted by JonnoH: ↑

Hi Jonkey,

I tried all that, it went to some big wig in the ATO but the response was, sorry but we can only apply apply the laws the govt sets blah blah blah.

From your post:
"(2) The alternative test is:the entity multiplies the current GST turnover from the month immediately after the month in which the acquisition or disposal occurred by three and uses that figure..."

I purchased early March.
The issue is, the GST turnover from the month immediately after the purchase (purchased March, month after is APRIL) was 50% down on April 2019. The govt says I can multiply that figure x3 and use that as my comparison period. That figure is already down 50% so they are saying I have to wait until it is down another 30% before I am eligible for any assistance at all.

Anyone who purchased a business in March is screwed. It makes my blood boil when I see billion dollar companies getting assistance while paying execs bonuses and the like.

As I said earlier, I have wasted so so much time trying to get assistance that I gave up in the end. I'm better off channelling that energy into the business so that I don't reach the government's ridiculous targets.

Thanks for taking the time to help. Cheers

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HI Johnno,

sorry to hear. If you acquired in March 20 and used April 20 as your comparison period, then if you fell more than 30% between March and April you should have qualified. There is a carve out rule for not a whole month before a test period.

Not sure if it helps, but see example 16. https://www.ato.gov.au/General/JobKeeper-Payment/In-detail/Original-decline-in-turnover-test/?page=4#Alternative_test. No need to go through the times 3 etc. Assuming you acquired after 1 March this test would be applicable and using April times 3 is not.

Sorry to hear of your troubles. It is tough out there, especially in Vic if that is where you are.

Cheers
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