Aquis to Stand Needs Further in Victoria | 2 | Thursday, May 21, 2020
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Paul Carazzo | 15 | Tuesday, April 21, 2020 Tuesday, April 21, 2020 | 14 | Paul Carazzo Eligible employers will be able to receive and pay the JobKeeper payments to various employee categories, including, but not limited JobKeeper – positive update to: • Employees who were employed by you as could benefit your horse businessemployees as at March 1, 2020; • Employees currently employed by you (including those stood down or re-hired); BY PAUL CARAZZO • Employees who are full-time, part-time, or f all the recent government long-term casuals (to get the payment for Covid-19 initiatives recently a casual employee, they must have been announced, it is generally thought employed by you on a regular basis for longer that the JobKeeper payment for than 12 months as at March 1, 2020); and Oemployers is only available to profitable horse • Employees who are not in receipt of a businesses that have established employees. JobKeeper Payment from another employer. under the business participation rules and give appropriate notice to the If you thought this was the case, read on, upon • Special eligibility for horse business structures with no employees ATO. In this scenario, your employer cannot nominate you for JobKeeper review of the recently announced JobKeeper payments. legislation, I have some pleasant surprises for you. Presuming the above eligibility conditions for employers and Below, I will work through the four common employees are satisfied, note below how a “nominated” employee for the • Partnerships business structures and explain how it is possible following common business structures are eligible to receive JobKeeper. A single partner in a partnership can be nominated. This single for business owners that operate as sole traders or • Sole traders partner must not be receiving JobKeeper from another source. through trusts, partnerships and companies, to be eligible for JobKeeper even if their businesses are The proprietor will be eligible if they do not receive JobKeeper from • Trusts currently in losses and/or they aren’t being paid another source. A single individual beneficiary of a trust can be nominated to receive wages. Another reminder: for verification purposes, businesses without JobKeeper payments. This individual beneficiary must not be receiving employees,How to such calculate as a sole trader: a fall in turnover for the JobKeeper from another source. • will need to provide an ABN for their business; The beneficiaries of a trust are outlined and defined within its trust deed. JobKeeper payment – quick overview first fortnight starting 30 March 2020 • nominateTo work out an your individual fall in turnover, to receive you the can payment; compare either: A JobKeeper payment is a minimum payment ($1,500 per fortnight) • provide• GST turnover that individual’s for March, Tax 2020 File with Number; GST turnover and for March, 2019 • Companies the Government will pay to eligible businesses (defined below) to ensure • provide• projected a declaration GST turnover as to for the April, recent 2020 business with GST activity turnover of that for April,business. 2019 A single director or shareholder of a company can be nominated. they are able to keep their eligible employees (defined below) employed •Sole projected traders GSTare easilyturnover the for most the commonquarter starting horse Aprilstructures 2020 withand, GSTas These businesses will also receive JobKeeper payments for their other by them during this Covid-19 period. such, itturnover is worth for sharing the quarter that starting if you areApril, also 2019 employed on a wage and eligible employees. The first payment will be received by employers from the ATO in the would likeHow to youreceive choose JobKeeper to project as ayour sole fall trader, in turnover rather thanis not through dependent your on This single director must not be receiving JobKeeper from another first week of May, 2020 and will be backdated to be payable from the employer,whether you you can report nominate a quarterly yourself or asmonthly the “eligible BAS, though business you participant” can do that if source. scheme commencement of March 30, 2020. Payments under JobKeeper it is easier. These initiatives are a step forward, but can be received up to September 27, 2020. If you work out that you qualify for the JobKeeper payments for the • Eligible employers it is noted by accounting bodies, such as CPA first fortnight because your turnover has declined by the relevant amount, All businesses who meet the turnover tests below can now register their Australia, that they have limitations in ensuring you remain eligible and do not need to keep testing turnover in following interest with the ATO to receive the JobKeeper payment for their employees. ly reporting requirements. equitable access to JobKeeper within trust, months. However, you will have ongoing month partnership, and company structures. They will Update to “Turnover tests” for employers More information will be provided soon. recommend to government that the ‘business The ATO also has the discretion to set out alternative tests that can All businesses (including sole traders) can now register their interest to participant’ test be extended to all actively establish your eligibility when turnover periods are not appropriately receive the JobKeeper payments for their employees (or themselves if sole engaged persons in trusts, partnerships and comparable (for example, if your business has been in operation less traders) if they meet the various turnover tests. The most applicable test to the companies. than a year). We will provide more information soon about alternative horse industry is that their turnover has been reduced by more than 30 per For more details on JobKeeper, please refer tests. cent relative to a comparable period a year ago (of at least a month). to our recent release titled “JobKeeper subsidy Since our original release on JobKeeper a few weeks ago, the ATO has for businesses and employees” on the Carrazzo • Eligible employees given more details as to how to apply the “turnover test”. This is a crucial blog at www.carrazzo.com.au. consideration for employers and is noted below. Carrazzo Consulting Pty Ltd | Chartered AccountantsCarrazzo Consulting - www.carrazzo.com.au Pty Ltd | Chartered Accountants - www.carrazzo.com.au NEW JOBKEEPER ‘ALTERNATIVE’ TURNOVER TESTS - PAGE 19 Brought to you by | 14 | Follow us @anz_news | 15 | Brought to you by Follow us @anz_news 2020 STALLION FEES - PAGE 24 | Dedicated to the Australasian bloodstock industry - subscribe for free: Click here Thursday, May 21, 2020 CONTRIBUTER HEADS MAPPERLEY STUD ROSTER - PAGE 18 Read Tomorrow’s Issue For Maiden Of The Week What's on Metropolitan meetings: Belmont (WA) Aquis to stand Needs Race meetings: Hawkesbury (NSW), Wagga Riverside (NSW), Seymour (VIC), Pakenham (VIC), Townsville (QLD) Further in Victoria Barrier trials/ Jump-outs: Wagga Riverside (NSW) Whishaws make call to send Tasmania’s leading stallion to the mainland LATEST NEWS Another hit for New Zealand as exports to Australia suspended again Just over two weeks after trans-Tasman equine flights resumed following a Covid-enforced AQUIS FARM shutdown, exports from New Zealand to Australia have been suspended indefinitely yet again, this time due to a possible case of equine piroplasmosis. overtures from mainland studs were made New Zealand’s Ministry of Primary Industries Needs Further for the Armidale Stud sire, who started his (MPI) yesterday informed exporters that career at a modest fee of just $3,300 (inc GST) shipments to Australia had been suspended BY TIM ROWE | @ANZ_NEWS in 2013. with immediate effect. A flight on Tuesday night asmania’s leading stallion Needs Needs Further’s deeds as a stallion have was prevented from leaving the country, while Further (Encosta De Lago), been headlined by the Adam Trinder-trained another shipment, scheduled for tomorrow night, the sire of Group 1-winning Mystic Journey, but he is also the sire of the is also expected to be held over as the department mare Mystic Journey and five Group 3-successful Deroche and Listed winners negotiates alternative arrangements with their page 6 >> Tother stakes horses from limited numbers, Mystical Pursuit, Pateena Arena and Adelaide Australian counterparts, Latestthe Department News of will relocate to Victoria this year in a joint sprinter Bold Star who raced without luck in>> Agriculture. arrangement between Aquis Farm and The Goodwood (Gr 1, 1200m)Continued at Morphettville on page 2 Armidale Stud. on Saturday. Brought to you by The deal, initially on a year-to-year basis, | 1 | was signed late yesterday after a number of Follow us @anz_news Thursday, May 21, 2020 | 2 | Aquis to stand Needs Further in Victoria He will stand for an unchanged << Continued from page 1 service fee of $13,750 (inc GST) and joins Aquis Farm’s foundation Victorian stallion, the second season sire Lean Mean Machine (Zoustar), at the Seymour property this year. Aquis Farm chief executive Tony Williams has a long-standing relationship with Armidale Stud’s Whishaw family and that played a pivotal role in getting the deal for Needs Further’s move interstate across the line. “To be fair, from a Victorian perspective,have been he was on thea horse radar who of a would lot of He’s by Encosta De studs and I don’t mind putting SPORTPIX it this way: I’ve had a good Lago, who made Needs Further relationship with the Whishaws his name in Victoria, and for a long time, from my days have in Victoria. He’s sired Mystic Journey, who is an (Australian) Guineas he has a lot of similarities at Magic Millions,” he told ANZ winner and she won the inaugural All-Star Mile, so he can get a proper to Encosta De Lago Bloodstock News yesterday. horse. He can get two-year-olds, he can get three-year-olds and a Classic physically and he’s from a “They’ve become friends and horse.