ASB MAGAZINE: With the constantly shifting situation with the COVID-19 pandemic and the uncertainty of when live sports will return, Surfing NSW is urging all professional competitors to check for their eligibility for the federal government’s JobKeeper initiative. Surfing NSW CEO Luke Madden and partner of Willett Johnston Partners Benjamin Johnston are both urging all surfers who are ABN holders to be conscious of what their entitlements are.
“Many athletes and coaches that earn their income through an ABN as either a contractor or consultant (or in the instance of surfers, as professional athletes) will be entitled to claim the JobKeeper payment that has recently been passed by the Federal government as part of the stimulus measures introduced to assist businesses and individuals deal with the economic impact of the coronavirus crisis,” said Johnston.
“With events being forced to cancel due to self-distancing rules, prizemoney for athletes has stopped along with the ability to earn income. Many sponsored athletes have also had their contracts either reduced by up to 50 percent and in some cases cancelled as surf brands struggle to cope with the economic impact of the crisis. This decrease in turnover is a key determinant for eligibility for JobKeeper payments.”
The key areas of eligibility are as follows:
– You are aged 16 or over
– your ABN was active on 12th March 2020
– you carried on business before 1st March 2020
– you can demonstrate that you pass the turnover test (meaning that your turnover has decreased by 30% or more compared to the same month last year ie March 19 compared to March 20 or April 19 compared to April 20).
– you have lodged your 2019 tax return before 12th March
Please contact your personal accountant to see if you are eligible.
Full details about a competitor’s eligibility can be found here.
