Working out your GST turnover - old EA

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DRAFT TOPIC - DO NOT DISTRIBUTE

To be eligible for JobKeeper payments, your business needs to show a fall in GST turnover compared to the same period a year ago.

The required fall in GST turnover is:

30% for an aggregated turnover of $1 billion or less
50% for an aggregated turnover of more than $1 billion
15% for ACNC-registered charities other than universities and schools

You only need to satisfy the fall in turnover test once. You don't need to test your turnover in the following months or quarters.

For all the details on JobKeeper eligibility for businesses, visit the ATO website.

Working out a change in GST turnover

Use the GST report for activity statement in MYOB Essentials to compare your current monthly or quarterly GST on sales with the same period a year ago. You can then use the calculator in the Single Touch Payroll reporting centre to help work out the change in your GST turnover.

You'll need to generate your reports to match your accounting basis (cash or accrual).

This is a basic GST turnover test which might not suit all businesses. For more details on GST turnover tests, visit the ATO website.

Let's step you through it.

To work out a change in GST turnover

First we'll obtain your GST turnover values for a period in 2020 and the equivalent period in 2019.

In MYOB, go to the Reports menu and choose All reports.
Click to open the GST report for activity statement.
In the Choose Report field, choose GST Report (Summary).
Choose the date range. In our example we've chosen the July - September 2020 quarter.
To generate the the report for a Cash basis, select this option. Deselecting this option will generate the report for an accrual basis. Here's our example:
Click Generate report. The report displays GST inclusive values for your sales.
Work out the GST exclusive value for G1 by subtracting the GST Collected from the Output Value. In our example this is $9372.35 - $852.03 = $8520.32
If displayed, take note of the Output Value for G3. These are your GST free sales for the report period. You might want to print or save this report for your records. Here's our example for July - September 2020:
Generate the report again for the same period in 2019 to obtain the comparison values.
Again, work out the GST exclusive value for G1 by subtracting the GST Collected from the Output Value. In our 2019 example this is $137,789.31 - $12,526.30 = $125,263.01
You might want to print this report too for your records.

Now we'll use these values to determine your change in GST turnover using the calculator in the Payroll reporting centre.

Go to the Payroll menu and choose Single Touch Payroll reporting.
Click the JobKeeper payment extension tab.
Enter the GST exclusive values from your GST Summary Report and click Calculate. Any decline in GST turnover will be shown. Here's our example:

What's next?

If you believe your business is eligible for JobKeeper payments, visit the ATO website to learn about enrolling for JobKeeper. Once you're enrolled, find out how to get set up and make JobKeeper payments in MYOB Essentials.

Monthly JobKeeper declarations

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Working out your GST turnover - old EA

Working out a change in GST turnover

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