789GCD10% decline in turnover certificate

789GCD 10% decline in turnover certificate

(1) An eligible financial service provider may issue a written certificate that:

(a) relates to a specified employer; and

(b) confirms that the employer satisfied the 10% decline in turnover test for the designated quarter applicable to a specified time.

(2) 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) a director or employee of the employer; or

(b) an associated entity of the employer; or

(c) a director or employee of an associated entity of the employer.

(3) 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.

(4) If:

(a) an employer is a small business employer; and

(b) an individual who:

(i) is, or is authorised by, the employer; and

(ii) 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.

Note: For small business employer, see section 23.