Access your income statement
You will receive either an income statement via myGov or a payment summary from your employer depending on how
The ATO has updated their position on whether a business should use a cash method or an accruals method to determine their eligibility for the JobKeeper payment.
The revised ATO position is less favourable than the previous statement and is as follows:
“If you normally account for GST on an accruals basis, but seek to calculate on a cash basis (or vice versa), we may seek to understand your circumstances to ensure that the calculation achieves an appropriate reflection of your turnover. If you aren’t registered for GST, we would expect you to use the same accounting method you use for income tax purposes”.
If you have any questions regarding the calculation of your turnover, please do not hesitate to contact our office.
Source: Australian Taxation Office
Date: 29/04/2020
