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Post-September JobKeeper Guidance

Published by:
James Morris
Published on:
September 07, 2020
Modoras Accounting (QLD) Pty Ltd ABN 81 601 145 215
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.

Modoras is dedicated to making sure you’re making the most of Government schemes. Make well-informed business decisions; contact us on 1300 888 803 to book a catch up with a Modoras professional.

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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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