JobKeeper Payment – Your Questions Answered

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We have received numerous enquiries regarding the JobKeeper Payment since its announcement on 30 March. Our 31 March newsletter provided a comprehensive overview of the announcement and its intended application. The scheme was officially enacted into law shortly before Easter, and during the Easter break, detailed rules and explanatory statements were made available. As a result, we now have the necessary information to address most queries regarding the JobKeeper Payment. If you require further assistance, our team of accountants in Sydney is well-equipped to assist you.
The ATO is responsible for the administration of JobKeeper payment.  Over the last few days, the JobKeeper Payment pages on the ATO website have frequently been updated and now provide detailed and valuable information, including step-by-step instructions on how and when to enrol your business, how to notify your eligible employees that you intend to claim JobKeeper Payment for them, and how and when to apply to claim the payment. Notably, the “Paying your eligible employees” page clarifies that while you usually will have to pay your eligible employees at least $1,500 each fortnight, you have until the end of April to pay them for the first two fortnights ending the 12th and 26th of April.  If you intend to enrol from the commencement date of 30 March, you must ensure that you have paid at least $3,000 to each eligible employee by 30 April. Sole traders and business owners that don’t draw a wage from their company or trust can also qualify for JobKeeper Payments.  Where there are multiple business owners, only one can be eligible for JobKeeper Payment.  As of this morning (16 April 2020), the ATO information promises to provide more information soon about the eligibility of these businesses, so check this link or contact us for more current information. Please get in touch with us for specific advice for your circumstances or if you’d like us to enrol and apply for JobKeeper Payment on your behalf. Kreston Stanley Williamson Team *Correct as of April 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.

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