Online applications for JobKeeper are now open.
The JobKeeper Payment will be available to eligible business owners/employers from 30/03/2020 until 27/09/2020 who have suffered a downturn due to the interruption that is the COVID-19. Employees wages will be subsidised by $1,500 gross, per fortnight per eligible employee, including the business owner and if you don’t have employees.
The intention behind the JobKeeper Payment is to help employers stay connected to their employees by assisting the cashflow for wages. Employees will benefit from keeping their job and receiving a minimum income during this turbulent time when unemployment is heightened, making the JobKeeper a more lucrative alternative to Centrelink’s JobSeeker.
Your business (SME) will be eligible if it has suffered a 30% downturn and you’re still paying your eligible employees the equivalent of at least $1,500/fortnight before-tax.
Most software providers have released enhancements, articles and support notes that make processing the federal wage subsidy simple. We have compiled a checklist of useful links and articles to help make this process somewhat simpler.
Am I eligible?
Do I meet the turnover test?
Enrol for the JobKeeper payment
Check your payroll is set up
Jobkeeper payments & Reckon software
Set up and manage JobKeeper payments
Identify eligible employees to be paid
Ensure all eligible employees are paid at least $1500 per fortnight
Send JobKeeper Nomination forms to employees
Identify Business Participant
Beneficiary of a trust or a company Director or Shareholder
Complete Nomination Form for Business Participant
Report monthly figures to the ATO
JobKeeper reimbursements are taxable
Put to Other Income on your P&L