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Insights

December 03, 2020

JobKeeper Key Dates: 2021 Reminders

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James Morris
JobKeeper Key Dates: January 2020 Reminders

Updated as at 9 Feb 2021

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 2.2 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:

  1. Satisfy the original decline in turnover test
  2. Have paid eligible employees at least the JobKeeper payment amount that applies per fortnight
  3. 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 by 14 February 2021.

More information on the scheme can be found here.

Is your business eligible for the JobKeeper Scheme? 

JobKeeper Eligibility

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.

IMPORTANT INFORMATION: This blog has been prepared by Modoras Accounting (QLD) Pty. Ltd. ABN 81 601 145 215. The information and opinions contained in this blog is general information only and is not intended to represent specific personal advice (Accounting, taxation, financial, insurance or credit). No individuals’ personal circumstances have been taken into consideration for the preparation of this material. The information and opinions herein do not constitute any recommendation to purchase, sell or hold any particular financial product. Modoras Accounting (QLD) Pty. Ltd. recommends that no financial product or financial service be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained in this blog can change without notice. Modoras Accounting (QLD) Pty. Ltd. does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained within, Modoras Accounting (QLD) Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Accounting (QLD) Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication. Liability limited by a scheme approved under Professional Standards Legislation.

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