Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Amendment Rules 2020 (Cth)

Legislative Instrument

Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Amendment Rules 2020

I, Christopher David Jordan, Commissioner of Taxation, make this determination under subsection 20(4) of the Coronavirus Economic Response Package (Payments and Benefits) Act 2020 and subsection 8(6) of the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020.

Christopher David Jordan Commissioner of Taxation Dated: 9 October 2020

1. Name of instrument This determination is the Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Amendment Rules 2020.

2. Commencement This instrument commences on the day after it is registered on the Federal Register of Legislation.

3. Schedules Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1 - Amendments

Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Rules (No. 2) 2020

1. After section 13 Insert:

14. Business temporarily ceased trading during the relevant comparison period

(1) An entity may apply either of the alternative tests under this section if: (a) the entity's business had temporarily ceased trading due to an event or circumstance outside the ordinary course of the entity's business; (b) trading temporarily ceased for a week or more; (c) some or all of the relevant comparison period occurred during the time in which the entity's business had temporarily ceased trading; and (d) the entity's business resumed trading before 28 September 2020.