Post-September JobKeeper Guidance
The Australian Taxation Office (ATO) has delivered guidance on what the extension of the JobKeeper stimulus measure to 28 March next year means for business.
Already enrolled in JobKeeper? If you are already enrolled you will not need to re-enroll, reassess employee eligibility or ask employees to agree to be nominated.
However, businesses must satisfy the actual fall in turnover test for the two extensions periods of 28 September 2020 to 3 January 2021, and 4 January 2021 to 28 March 2021.
The ATO has explained businesses registered for GST, the calculation will match the total sales reported at G1 on the BAS minus GST payable (1A) where applicable.
Additional turnover information to demonstrate actual fall in turnover for the September quarter from the start of October onwards can be provided before completing the November monthly declaration.
More information will be released by the ATO on how to make this calculation.
As the JobKeeper extension has introduced the two tiered payment system, employers will need to work out which tiered rate applies to each eligible employee (Tier 1 or Tier 2).
From 28 September, employees who have worked 80 hours or more in the four weeks of pay periods before 1 March 2020 or 1 July 2020 will receive $1,200 per fortnight, and all other employees will receive $750.
From 4 January, payment rates will decrease to $1,000 and $650 per fortnight.
The ATO’s preliminary guidance can be found on the ATO website here.
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