Jobkeeper Payments till 27 September 2020

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We are registered tax agents and we are here to assist you check your eligibility criteria and help to check requirements regarding Jobkeeper Payments.

 If you have questions regarding how much you will receive Jobkeeper payments,        don’t hesitate to contact us.

JobKeeper payments:

According to ATO guidelines from 30 March to 27 September 2020,

Employer will get $1,500 per fortnight per employee. So Employer can at least pay the basic salary to their employer.

Now there are some changes that will come after 28th September 2020.

That means that if you still want Jobkeeper payment after 28th September 2020, you need to show to the ATO that your business turnover has still declined by 30%.

For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

Jobkeeper Payments changes after 28th September 2020

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Company employers should assess their turnover and show that company’s turnover has still declined after 28th September 2020.

Once you assess basic requirements, employer will receive payments as below:

According to ATO guidelines from 28 September to 3 January 2021                    Employers will get $1,200 per fortnight per employee or business participant who worked more than 20 hours per week in company/business and $750 per fortnight per employee or business participant working less than 20 hours per week in company. 

In addition, The payment will decrease from 4 January 2021 to 28 March 2021 and the employer will get $1,000 per fortnight per employee or business participant who worked more than 20 hours per week in a company. And if an employee who works less than 20 hours per week for that employer will receive $650 per fortnight per employee.

If you want to know about changes and need any further details regarding Jobkeeper payment, you can contact us on 1300 768 284

You can also visit ATO website for further details, please visit on www.ATO.com

For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

JobSeeker and other support

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ATO will provide assistance to small businesses due to COVID situation. To get benefits from the government you need to pass an eligibility test and you need to fulfill basic requirements. If you need to have any query regarding jobseeker payments, our expert will assist you to get Jobseeker payments.

What is a Jobseeker payment?

If you are looking for job and you are 22 old and getting Age pension due to COVID-19 situation. In addition, in case you are sick or injured and not able to do usual work or study for a short period of time.

Please be not that your income and assets are under the test boundary and you must need residence rules. So you can seek to claim JobSeeker payments from ATO.

Corona virus supplement

You may be eligible for corona virus supplements which is previous $550 and is reduced to $250 fortnight; you will get benefits from 25 September until31 December 2020.

If you need to ask question, you can book 30* minute consultation with our experts. Please book an appointment to seek jobseeker payment consultation on 1300 768 284.

For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

Eligible Employees for Jobkeeper Payments

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Once you pass the basic eligibility test after 28th September 2020, employee eligibility remains the same but the payment value may change after 28 September 2020 which is based on average weekly hours in February 2020.

On 1 March 2020:

  • individual Was aged 16 years and over; and
  • If the individual was aged 16 or 17 or less than that, individual was either financially independent or was not undertaking full time study;
  • Individual Was full time an employee other than a casual, or was a long-term casual; and
  • Individual Was an Australian resident, or a resident for tax purposes and held a Subclass 444 (Special category) visa**.

The special Category visa(Subclass 444) is a temporary visa and you have the right to stay and work in Australia as long as you remain a New Zealand citizen. But you do not have the same rights and benefits as Australian citizens or permanent residents.

And, at any point during the JobKeeper fortnight:

  • Taxpayer Was an employee of the employer; and
  • Taxpayer Was not an excluded employee:

› An employee who is receiving parental leave pay or dad and partner pay; or

› An employee who is receiving workers compensation payments in relation to total incapacity.

A long term casual employee is an individual who has been employed for a regular or long term basis of 12 months which starts from 1st March 2019 to 1 March 2020.

For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

BAS and Jobkeeper

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Most of the businesses use their business activity statement to check their eligibility criteria. But it depends on actual GST turnover of the company.

However, as the BAS deadlines are different it means that not generally due until the month after the end of the quarter. To check your eligibility criteria and requirement, you need to assess in advance of the deadlines of BAS reporting. So ATO can check wage conditions and eligibility for company’s employees.

In addition, the ATO may extend the time period so companies can pay their employees.

Alternative options are available for businesses and not-for-profit organizations who are not required to lodged BAS if the entity is a member of a GST group.

Alternative tests

Some businesses who is not to compare actual turnover in a quarter in 2020 with the quarter of 2019 have alternative options to test eligibility.

The Commissioner of taxation has authority to provide alternative options for basic tests.

For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

Jobkeeper and Eligibility

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If you are currently getting jobkeeper payments from Australian Taxation Office but the payment you will get until 27th September and after that you still want to receive payment you need to reassess your eligibility that your turnover still declines after 28th September 2020.

You need to assess the actual GST turnover for the June and September 2020 quarters and that means payments should be between 28 September 2020 to 3rd January 2021.

For the quarters June, September and December 2020 quarters, the payment should be 4th January 2021 to 28 March 2021.

Eligible employers

If employers want jobkeeper payment they need to show decline in their turnover to pass the eligibility test.

If you carried on a business in Australia or it was for non profit organisation on 1st March 2020

  • Company’s turnover should be declined in turnover test
  • ≥ 15% for an ACNC-registered charity which is not included universities, or schools within the meaning of the GST Act – these entities need to meet the basic turnover test)
  • ≥ 50% for large businesses:

– aggregated turnover for the test period is likely to be $1 billion or more, or aggregated turnover for the previous year to the test period was $1 billion or more

  • a small business that forms part of a group that is a large business must have a >50% decline in turnover
  • ≥ 30% for all other qualifying entities.

 

  • And, was not:
  • Major bank levy who have any quarter which is ending before the date, Consolidation group member and another group member had subject to levy or;
  • A government body is a wholly-owned entity of such a body; or
  • At the time the payments Liquidator had been appointed to the business or a trustee in bankruptcy had been appointed to the individual’s property.

Additional tests will apply by ATO guideline from 28th September 2020.

For more information regarding jobKeeper payment,you can book an appointment with our experts and solve any business related query.

For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au