14th August 2020
The time has come!
We can now enroll for the JobKeeper Payments. Let’s quickly recap on whether or not your business is eligible and which employees might be eligible.
Turnover test
In order for a business to be eligible it must pass the ‘turnover test’. The turnover test requires a business to have experienced at least a 30% downturn in turnover in any one month between March 2020 and Sept 2020 when compared to the same month in 2019. Importantly, you only have to pass the turnover test once and then you remain eligible for the remaining JobKeeper period. The turnover calculation can be based on either an accrual or cash basis, that is, you can calculate your turnover on invoices raised in the specified period or income physically received in that period.
For those businesses that haven’t been in operation for a full year, there will be alternative tests made available, but these are yet to be outlined by the ATO.
Eligible employees include the following:
- are currently employed by the eligible employer (including those stood down or re-hired);
- were employed by the employer at 1 March 2020;
- are full-time, part-time, or long-term casuals (a casual employed on a regular basis for longer than 12 months as at 1 March 2020);
- are at least 16 years of age;
- are an Australian citizen, the holder of a permanent visa, a Protected Special Category Visa Holder, a non-protected Special Category Visa Holder who has been residing continually in Australia for 10 years or more, or a Special Category (Subclass 444) Visa Holder; and
- are not in receipt of a JobKeeper Payment from another employer.
Each eligible employee must be being paid at least $1,500 per fortnight before tax and must complete a JobKeeper Employee Nomination Notice. Please keep this on file and also email a copy to me.
Sole traders – if your business meets the above turnover test, you are eligible to receive JobKeeper payments.
Partners in partnerships – if your business meets the above turnover test, one partner is eligible to receive JobKeeper payments.
How do you enrol for JobKeeper payments?
If you think you are eligible, you can enrol via the JobKeeper page on the ATO website which you can find here. If you would like our office to register you please email me with the following information:
- which month you have experienced, or believe you will experience, a 30% downturn in turnover
- the number of eligible employees
- details of the bank account that will receive the JobKeeper payments
Please note that we will charge a nominal fee for this service.
IMPORTANTLY, you must register by 26 April 2020 in order to receive payments for the first two fortnights ie payments backdated to 30 March.
Should you have any questions, please don’t hesitate to contact me.
Jacquie and Cassell and Co Team
The time has come!
We can now enroll for the JobKeeper Payments. Let’s quickly recap on whether or not your business is eligible and which employees might be eligible.
Turnover test
In order for a business to be eligible it must pass the ‘turnover test’. The turnover test requires a business to have experienced at least a 30% downturn in turnover in any one month between March 2020 and Sept 2020 when compared to the same month in 2019. Importantly, you only have to pass the turnover test once and then you remain eligible for the remaining JobKeeper period. The turnover calculation can be based on either an accrual or cash basis, that is, you can calculate your turnover on invoices raised in the specified period or income physically received in that period.
For those businesses that haven’t been in operation for a full year, there will be alternative tests made available, but these are yet to be outlined by the ATO.
Eligible employees include the following:
- are currently employed by the eligible employer (including those stood down or re-hired);
- were employed by the employer at 1 March 2020;
- are full-time, part-time, or long-term casuals (a casual employed on a regular basis for longer than 12 months as at 1 March 2020);
- are at least 16 years of age;
- are an Australian citizen, the holder of a permanent visa, a Protected Special Category Visa Holder, a non-protected Special Category Visa Holder who has been residing continually in Australia for 10 years or more, or a Special Category (Subclass 444) Visa Holder; and
- are not in receipt of a JobKeeper Payment from another employer.
Each eligible employee must be being paid at least $1,500 per fortnight before tax and must complete a JobKeeper Employee Nomination Notice. Please keep this on file and also email a copy to me.
Sole traders – if your business meets the above turnover test, you are eligible to receive JobKeeper payments.
Partners in partnerships – if your business meets the above turnover test, one partner is eligible to receive JobKeeper payments.
How do you enrol for JobKeeper payments?
If you think you are eligible, you can enrol via the JobKeeper page on the ATO website which you can find here. If you would like our office to register you please email me with the following information:
- which month you have experienced, or believe you will experience, a 30% downturn in turnover
- the number of eligible employees
- details of the bank account that will receive the JobKeeper payments
Please note that we will charge a nominal fee for this service.
IMPORTANTLY, you must register by 26 April 2020 in order to receive payments for the first two fortnights ie payments backdated to 30 March.
Should you have any questions, please don’t hesitate to contact me.
