10% decline in turnover certificate
789GCD 10% decline in turnover certificate
An eligible financial service provider may issue a written certificate that:
relates to a specified employer; and
confirms that the employer satisfied the 10% decline in turnover test for the designated quarter applicable to a specified time.
However, an eligible financial service provider is not entitled to issue a certificate under subsection (1) in relation to an employer if the eligible financial service provider is:
a director or employee of the employer; or
an associated entity of the employer; or
a director or employee of an associated entity of the employer.
A certificate under subsection (1) is to be known as a 10% decline in turnover certificate that covers the employer specified in the certificate for the designated quarter applicable to the time specified in the certificate.
If:
an employer is a small business employer; and
an individual who:
is, or is authorised by, the employer; and
has knowledge of the financial affairs of the employer;
makes a statutory declaration to the effect that the employer satisfied the 10% decline in turnover test for the designated quarter applicable to a specified time;
the statutory declaration is taken to be a 10% decline in turnover certificate that covers the employer for the designated quarter applicable to the time specified in the statutory declaration.
For small business employer, see section 23.
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