News

New turnover test required.  From 28^th September, business will be required to show an actual decline in GST Turnover.  The original announcement stated this would be for both June and September quarters.  There are still changes to JobKeeper 2 and the June quarter may no longer apply.

There will also be new eligibility for employees We’ll update you when there’s more certainty.

The Fair Work Commission has announced at 1.75% increase to minimum wages. Check the Fair Work Website to see whether there are any pay rises applicable to your employees Awards, and make the relevant changes to your payroll set-up.

The increase applies to some Awards from, 1^st July while others start from 1^st Nov 2020 and 1^st Feb 2021.

Complete your Monthly Declaration to receive your payments

JK Monthly declaration – lodged through ATO on-line services.  This is what triggers the JK payments, if you don’t lodge the monthly report, you may not get paid.  (available 4^th May).  April report must be lodged by 31^st May

Required information may include:

• A list of all eligible employees, Name, address, TFN, Date of Birth, JK Status, which fortnight’s they’re eligible for,
• Details of Eligible Business Participants, Name, TFN, Date of Birth, fortnight of JK commencement, which fortnights they’re eligible for (Note: EBP does not have to be paid the JK amounts – the entity will receive the subsidy)
• Confirmation of number of employees still eligible for JK Subsidy
  • Must be Currently Employed
  • Not a 16 or 17 year old financially dependent student (change from 26^th April onwards)
  • Has not changed their circumstances (change may require new Employee Nomination form)
  • Must not be on Govt PPL, Govt D&P pay, full workers comp
  • Must have been paid for the fortnight (substitute month where appropriate)
• GST Turnover for the previous month, sales not including input taxed sales eg interest or residential rent (does not relate to your Decline in Turnover Test)
• Projected GST turnover for following month
• Bank account details
• Declaration that your business is still eligible for the JK Subsidy

The JobKeeper scheme is underway.

Job Keeper process for businesses

By now you should have assessed your eligibility for the scheme, including Decline in Turnover and which month you qualify to join. New guidance had been issued by the ATO about “projected” turnover and alternative Decline in Turnover tests.   Keep your calculations on file for 5 years

Next steps:

• Enrol your business in the JobKeeper scheme as soon as possible before 31^st May
• Notify the ATO by a monthly report (available after 4^th May)