Jobkeeper Upcoming Key Dates

Two individuals conducting a money transaction with a calculator and notebook on the table, signifying the importance of seeking the advice of a professional tax accountant for accurate financial management.

As we transition from JobKeeper 1 to JobKeeper 2, accountants in Sydney must stay updated on the key dates to follow in the upcoming months. JobKeeper 1 officially concluded on 27th September, marking a significant milestone. With JobKeeper 2 now in effect starting from 28th September, we want to ensure you have the necessary information to comply with the timeline.

The last edition of S & W Insight had all the detail of JobKeeper 2 for you to digest. Now it is time to move on to practicalities.

You must be clear on whether you are eligible for JobKeeper 2. A good summary of the new rules is shown in this link

Upcoming dates to remember

By 14 October 2020  –  lodge JobKeeper report to claim September payment (this is the last payment for JobKeeper 1)

By 31 October 2020 –  check your eligibility for JobKeeper 2 Extension 1. You do this by comparing the actual income based on the BAS in the September quarter of 2020 to the September quarter of 2019 or by using the alternative tests. If 30% or more less than 2019, then you are eligible.

–       If you are eligible, then you need to enrol by this date

–       Nominate eligible employees, if this is the first time you are enrolling (in ATO and under payroll software)

–       Set up in payroll software JK Tier 1 and 2 on the Jobkeeper support page

–       Process and pay any top-ups for wages for employees below the thresholds for October

By 14 November 2020  –  Lodge JK2 extension 1 report to claim October payment

We will continue giving you relevant dates to meet deadlines in upcoming S & W Insight editions, so stay tuned.

If you have any queries, don’t hesitate to contact your client manager.

Kreston Stanley Williamson Team

*Correct as of September 2020

Disclaimer – Kreston Stanley Williamson has produced this article to serve its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas in this article, you must seek advice about your circumstances. Liability is limited by a scheme approved under professional standards legislation.

Read Other Articles

Pin It on Pinterest