24 Sep 2020 JOBKEEPER 2.0: AFTER SEPTEMBER 28
The JobKeeper scheme changes next week, so if you are looking to continue to claim JobKeeper payments, there are a few things you need to be on top of.
There are several differences between the program during its initial period, from March 30th through this coming weekend, and the next two periods, the first beginning next Monday, September 28th, and the second on January 4th next year.
Not only are the payment amounts being reduced, they are changing to a two-tier system. This has the potential to cause some confusion, particularly for employers with predominantly part-time staff.
The ATO has also provided some more detailed guidance around reference and eligibility periods, notably what to do if you need to use an alternate reference period to determine an employee’s eligibility.
To receive JobKeeper after 28 September, eligible employers will also need to assess their decline in turnover with reference to actual GST turnover for the September 2020 quarter and again for the December 2020 quarter.
Each eligibility period is addressed separately. That is, there might be businesses that qualified for the first tranche of JobKeeper, don’t qualify for the second tranche, but then qualify for the third.
It’s worth noting the provisions for sole traders and business owners, as well.
To help you get a handle on what’s changing and how the new rules will be applied, we’ve revised our guide to JobKeeper 2.0.
As always, we encourage you to be as proactive as possible in assessing your circumstances and your options.
Should you have any questions please feel free to get in touch with your direct contact here at The Practice in your usual manner.
Even if calling on our expertise simply eases the stress caused by these exceptional challenges, we’ll feel as if we’ve helped.
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