JobKeeper Deadline and Other Scheme Changes
After an initial review of the JobKeeper framework, the ATO has revealed that employers who are enrolling for JobKeeper payments after May, can now enroll their business and identify eligible employees by the end of each month that they are claiming for.
What does this mean?
If a business enrolls for JobKeeper for the first time in June, they will now be able to complete:
– Step 1 – Enroll for JobKeeper; and
– Step 2 – identify eligible employees.
By the end of the month, instead of waiting for the first JobKeeper fortnight schedule. Employers will still need to pay employees the stipulated $1,500 for each fortnight claimed.
Step 3, the monthly business declaration, will need to be completed within 14 days of the end of the previous month to receive reimbursements for the JobKeeper payments made in the previous month.
The JobKeeper payments will continue under current rules until Sunday 7, June.
What happens after 7 June?
The ATO has announced new JobKeeper scheme changes which will commence in July 2020. Changes are still being reviewed, and expected to be announced late June. The concepts being considered are:
- The $1,500 payment is being examined to assess if the ATO continue to believe it is the right amount. With the understanding that the flat payment method see some employees receiving more money than they would have otherwise earned.
- The ability for businesses who have recovered significantly to still receive the JobKeeper payment.
While JobKeeper and other Government stimulus packages are still in effect, scheme Treasurer Josh Frydenberg has gone on record to say that Australia is experiencing its first recession in almost three decades.
Although a recession is marked by two consecutive quarters of GDP contraction, Josh believes that the June quarter is guaranteed to drop following COVID-19 shutdowns.
Want to know more?
As Government stimulus measures are frequently changing, we are continually updating and creating new tools and information for you. To review the latest materials on COVID-19, please click here. This page will be regularly updated, so please check back in from time to time.
Below are some articles that may interest you:
- JobKeeper Package Update: How to Apply
- JobKeeper Payment: Relief for Employers and Employees
- Are you entitled to the Federal Government Stimulus Package
- Government Stimulus Package for Business
- Government Stimulus Package for Individuals
- Australian Tax Office Relief
We’re here to support you through the changes. From making the most of the stimulus initiatives, through to managing the risks associated with the impact of the Coronavirus, the Modoras team is here to help you build a resilient business. Make well-informed business decisions; contact us on 1300 888 803 book a catch up with a Modoras professional.
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