JobKeeper Payment – Your Questions answered

JobKeeper Payment – Your Questions answered
We’ve been fielding many questions about the JobKeeper Payment since it was announced on 30 March.  Our newsletter on 31 March outlined the announcement and how it was intended to apply.   The scheme was passed into law just before Easter with the detailed rules and explanatory statement becoming available over the Easter break, so information is now available to answer most questions. The ATO is responsible for 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 useful information, including step-by-step instructions on how and when to enrol your business, how to notify your eligible employees that you are intending to claim JobKeeper Payment for them, and how and when to apply to claim the payment. Importantly, the “Paying your eligible employees” page makes it clear that while normally you 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 ended 12th and 26th April.  That is, if you’re intending to enrol from the commencement date of 30 March, you will need to 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 contact 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 – this article has been produced by Kreston Stanley Williamson as a service to 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 contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.

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