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If the basic test cannot be satisfied, then in some circumstances, vintage viking odin and ravens poster an alternative test might be available which allows for an alternative comparison period to be tested.

vintage viking odin and ravens poster

When the JobKeeper rules were introduced on 9 April 2020, it was unclear how they would apply to corporate groups with a discrete employment service entity. vintage viking odin and ravens poster Charities that receive certain government grants can elect to disregard those grants. GST turnover is generally calculated on an entity-by-entity basis. Supplies made to related entities need to be included . If one entity runs multiple businesses, the turnover from these should be combined. There is an exception to this rule for certain service entities . Fortunately, the ATO has acknowledged this issue and we welcome the practical guidance issued on 4 May 2020 in LCR 2020/1. The ATO has said it will accept various alternative methods for calculating GST turnover ,

including using accrual accounting, GST attribution rules or even income tax accounting . Aggregated turnover includes the turnover of the employer as well as its connected entities and affiliates . In simple terms, an individual or company will be an ‘affiliate’ if it acts, or could reasonably be expected to act, in accordance with the directions or wishes of another business. An entity will be a connected entity if it owns, or has the right to acquire, at least 40% of any income distribution, capital distribution or voting rights. ‘Aggregated turnover’ is defined pursuant to the small business entity rules in section of the Income Tax Assessment Act 1997 . In broad terms, a business will satisfy the ‘decline in turnover’ test if the business’ GST turnover has dropped by a specified percentage from a relevant comparison period. The relevant comparison period against which decline in turnover is tested is generally the corresponding period in 2019 .