JobKeeper is a Federal Government subsidy paid to eligible businesses effected by COVID-19 to cover the costs of their employee’s wages.
Affected employers will be able to claim a fortnightly subsidy payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months. This full amount of $1,500 must be paid to all eligible employees, whether they are full time, part-time or long-term casuals.
The ATO has specific actions that must take place within tight timeframes for an employer to receive the JobKeeper payment.
These are the actions that we can assist you with:
Now: Employer eligibility assessment
Review ATO requirements for the business
Review ATO requirements for employees
Review ATO requirements for Business Participation Entitlement
Document the fall in turnover % in case of future ATO audit
Now: Identify Eligible Employees
Prepare list of eligible employees
Prepare JobKeeper employee nomination notice for all eligible employees and ensure all notices are signed
Now: Make correct wage payments to Eligible Employees
Ensure your payroll software is correctly set up to record JobKeeper “top up” payments
Pay the minimum $1,500 before tax to each eligible employee each fortnight (starting with the fortnight 30 March to 12 April) to be able to claim the JobKeeper payment for that fortnight
Continue to pay the minimum $1,500 to employees in every subsequent fortnight until 27 September 2020
From 20 April 2020: Enrolment for JobKeeper
Enrol for JobKeeper using ATO online services from 20 April 2020: - Provide employer bank account details for receipt of JobKeeper payment - Confirm if applicant is entitled to a “Business Participation Payment” - Specify the number of employees who will be eligible for one period and the number eligible for two periods - Get confirmation that all employees the employer plans to nominate are eligible and the employer has notified them and has their agreement
From 4 May 2020: Apply for JobKeeper Payments
Apply to claim the JobKeeper payment using ATO online services between 4 May 2020 and 31 May 2020
Ensure all eligible employees have been paid $1,500 per fortnight
Identify the eligible employees from a STP prefill or by manually entering into ATO online services
Update your accounting system Chart of Accounts to ensure JobKeeper payments are coded correctly
7th Monthly: JobKeeper Declaration Report
Using ATO online services, report to the ATO using their Monthly JobKeeper Declaration Report on the following: - Reconfirm that your reported eligible employees have not changed - Input current GST Turnover for the reporting month - Input projected GST Turnover for the following month - Notify if any eligible employees have changed or left your employment
There is a lot of work we can help you complete so that you receive the maximum JobKeeper benefit, and we want to be as transparent as possible regarding how we have calculated the price for our services and advice.
Please note that if any additional or complex issues arise from our processing any of the above lodgements and work, we will invoice you at a standard hourly rate of $250 per hour plus GST for the additional work.