With the calendar ticking over into December, the count down for Christmas has begun and we will be saying goodbye (& good riddance?) to 2020 soon. For accountants, this means the start of yet another JobKeeper period with businesses needing to re-establish their eligibility using the actual drop in turnover test and a new set of minimum wage rates for employees and business owners who worked under or over 40 hours per fortnight.
In good news, the ATO has announced the previously released deadlines for this new JobKeeper period have been extended to allow everyone to enjoy a decent break.
For the existing JobKeeper scheme the December monthly declaration will need to be submitted by 28th January rather than 14th January. In addition, the minimum fortnight wage for the last JobKeeper fortnight ending 3rd January can be paid by Monday 4th January.
For the new JobKeeper scheme, new or existing businesses will need to register and prove their eligibility by 31st January. Businesses will also have until this date to pay the minimum wage required for the JobKeeper fortnight ending 18th January.
A reminder that businesses which were eligible for the first round of JobKeeper payments but were ineligible for the second round may still be eligible for the third round. The ATO announced that there was a reduction of 450,000 businesses which have claimed the second JobKeeper payments, so it will be interesting to see how that number changes for the third round of payments.
If you have any questions regarding the JobKeeper scheme, please do not hesitate to contact us.