Now that the initial JobKeeper scheme has finished, the new extended JobKeeper scheme kicks in with its new eligibility rules. This will once again prove to be a nightmare for struggling business owners and busy accountants.
Although there is no need to re-apply for this new scheme, you do need to assess your eligibility using the new rules as well as nominate the appropriate payment rate for each eligible employee and business participant depending on the amount of hours they worked during the applicable period (February or June 2020).
The ATO has released a helpful checklist giving a timeline of tasks businesses should be doing: –
- Now: notify your employees about the JobKeeper payment they can expect to receive.
- From 28 September 2020: start paying your eligible employees Tier 1 and Tier 2 JobKeeper rates based on their hours worked.
- From 28 September: if using Single Touch Payroll to notify us of your eligible employees, provide each eligible employee’s Tier as part of your normal payday reporting. Enrol for the JobKeeper payment if you are doing so for the first time.
- Between 1 – 14 October 2020: complete your October JobKeeper monthly business declarations to receive your reimbursement for the September fortnights.
- Between 1 – 31 October 2020: prepare and submit your businesses actual decline in turnover to the ATO. This is based on comparing the actual quarterly turnover for September 2020 to September 2019.
- Before 31 October 2020: ensure you meet the wage condition for all eligible employees included in the JobKeeper scheme for the JobKeeper fortnights starting 28 September 2020 and 12 October 2020.
- From 1 November 2020: complete your monthly business declaration and confirm what payment tier you are claiming for each employee.
If you need assistance with your JobKeeper procedures, please do not hesitate to contact us.