JobKeeper Key Dates: January 2020 Reminders
We have just one quarter left of the JobKeeper scheme in its current form. Unless the Government announces otherwise. Which we do not expect at the time of writing. But still, it is not a set and forget qualifications. The JobKeeper 2.0 scheme requires action for the 4 January 2021 to 28 March 2021 period.
To continue to meet the eligibility criteria or to become eligible to claim the JobKeeper payment in the coming period, business owners must prove an actual GST turnover decline in the December 2020 quarter compared to a comparable period (e.g. December 2019 quarter).
An alternative test may apply if the comparison period is not appropriate.
The following requirements must also be met:
- Satisfy the original decline in turnover test
- Pay eligible employees at least the JobKeeper payment amount that applies per fortnight
- Make sure eligible employees or business participants are notified what payment rate applies to them within 7 days of notifying the ATO
New decline in turnover form available
A new decline in turnover form is available here to determine eligibility to participate in the second JobKeeper payment.
This decline in turnover test must be submitted before employers can complete the business monthly declarations from 1 February 2021.
More information on the scheme can be found here.
Is your business eligible for the JobKeeper Scheme? Click here to find out.
Government Stimulus in a COVID world is complex. If you need help to navigate the JobKeeper and JobMaker maze, or if you would like a second opinion to help you get back on track, contact us on 1300 888 803.
Economic conditions have been challenging of late. Despite this, there are 7 simple steps to financial recovery post-COVID. Click here to find out more.
We are here to help Australian small business owners and its community members during these challenging times.
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