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April 17, 2020

JobKeeper Package Update: How to Apply

JobKeeper Package Update: How to Apply

The JobKeeper Package passed through Parliament on the 8th of April. This initiative has been designed to keep Australians in work and Australian businesses in business. With many businesses experiencing a significant reduction in revenue as a result of COVID-19, JobKeeper has been passed to help mitigate the impact of employee wage costs and as a result, the expected increase in unemployment rates.

How to apply for the JobKeeper Payment

Step 1. Find out if you are eligible by taking the five-step discovery test. Please click here to start.

Step 2. Notify employees whom you intend to claim the JobKeeper payment for.

Step 3. Have each employee complete the JobKeeper employee nomination notice before the end of April.

Step 4. Apply with your myGovID through the ATO Business Portal here.

Although JobKeeper payments will be backdated from 30 March, payments will begin to be rolled out in the first week of May 2020. The ATO has advised that employers must continue to pay their employees during this period to qualify.

One in, all in

Once an employer nominates to participate in the JobKeeper scheme, all eligible employees must be covered. Employers are unable to select eligible employees on a case by case basis. The ‘one in, all in’ rule is a key feature of the package.

Keeping employees informed

Navigating the new initiative can be confusing for employers and employees alike. A conversation with employees can be beneficial to make sure they are aware that the Government will only pay one of the job stimulus initiatives to each individual:

1) JobKeeper through one employer; and

2) Not in conjunction with the JobSeeker payment.

Are you Single Touch Payroll Compliant?

The JobKeeper Package links directly to Single Touch Payroll (STP). The ATO uses Single Touch Payroll data to pre-populate employee details for the JobKeeper payment. STP is also used by the ATO and Services Australia (DHS) to make sure claims aren’t being made twice. If you would like to know more about STP, please click here.

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:

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.

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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