JobKeeper Payment

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.

JOBKEEPER CHECKLIST

1. Am I eligible?

   https://www.ato.gov.au/general/jobkeeper-payment/employers/eligible-employers/
   https://treasury.gov.au/coronavirus/jobkeeper

2. Do I meet the turnover test? 

   The Basic Test
   The Alternative Test

3. Enrol for the JobKeeper payment
   

   https://www.ato.gov.au/general/jobkeeper-payment/employers/enrol-for-the-jobkeeper-payment/

4. Check your payroll is set up

   MYOB Software:
   (AR) Accountright
   Essentials (old)
   Essentials (new)

   Xero Software:
   Enrol employees for JobKeeper payments
   Process JobKeeper payments

   Reckon Software:
   Jobkeeper payments & Reckon software

   Quickbooks:
   Set up and manage JobKeeper payments

5. Identify eligible employees to be paid
   

   https://www.ato.gov.au/General/JobKeeper-Payment/Employers/Your-eligible-employees/

6. Ensure all eligible employees are paid at least $1500 per fortnight

    

7. Send JobKeeper Nomination forms to employees
   

   https://www.ato.gov.au/uploadedfiles/content/cr/d1aab7f2-fbe8-44b8-9ec1-4885ded1088e.pdf

8. Identify Business Participant
   

   Beneficiary of a trust or a company Director or Shareholder

9. Complete Nomination Form for Business Participant
   

   https://www.ato.gov.au/assets/0/104/300/362/5f4639ad-8475-4d66-a4f3-4ff0ef2d79f7.pdf

10. Report monthly figures to the ATO

     

11. JobKeeper reimbursements are taxable
    

    Put to Other Income on your P&L

ATO JobKeeper Guides

JobKeeper guide – sole traders
JobKeeper guide – employers reporting through STP
JobKeeper guide – employers not reporting through STP