As is usual at this time, every day brings new changes to the JobKeeper program. So in our continuing effort to keep you informed, we provide the following extract from the ATO:
Extension of Time To Enrol For The JobKeeper Scheme
Please note the Commissioner has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020.
If you enrol by 31 May you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes having paid your employees by the appropriate date for each fortnight.
For the first two fortnights (30 March – 12 April, 13 April – 26 April), we will accept the minimum $1,500 payment for each fortnight has been paid by you even if it has been paid late, provided it is paid by you by the end of April.
We will continue to target registration by the 30 April, as we believe it to be in your best interests to be registered by then – particularly the earlier receipt of JobKeeper monies. As detailed above (and despite ongoing changes from the ATO), we recommend that you pay your employees by 30 April to qualify for the first 2 fortnights.
In other announcements, the Government has now provided advice in respect of Service Based Entities. The detail is good to have formalised and confirms with our expectations in regards to Service Entities, that to properly consider a 30% downturn, the revenue of the principal income generators needs to be analysed. We will now move to finalising registration for all our Service Based Entities.
Should you have any queries, please email us.
– Ian Hogbin
This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.