Chartered Accountants & Financial Planners

News

Articles & Updates

JobKeeper Extension 1

For a snapshot of JobKeeper 2.0 Extension please see this ATO infographic

Alternatively watch the following video

JobKeeper 2.0 Extension began on 28 September 2020 for eligible businesses – see ATO JobKeeper Extension (the ATO regularly updates this link)
 
What to do now

Review whether your business is eligible under the basic test or one of the alternative tests

If you are eligible under the basic test, please log on to your ATO Business Portal, and go to the JobKeeper Extension “Check decline in turnover” section. Here your September 2019 and September 2020 turnovers should prefill (assuming BAS have been lodged) and then you can press the “Check” button and once satisfied of the decline follow the next step to advise the ATO of your participation in JobKeeper 2.0.

IMPORTANT: this step needs to be done by 31 October 2020 if you wish to receive payments for the month of October. 

If you are not eligible under the basic test, review whether you are eligible under one of the alternative tests. If you are eligible under one of the alternative tests, you need to follow the same steps as above, but nominate that you do not wish to use the September BAS turnover, but an alternate turnover figure and advise the ATO of which alternate test you are using. Again, this step needs to be done by 31 October 2020 if you wish to receive payments for the month of October.

Remember:

  • there are 2 tiers of payments ($1200 and $750 per fortnight less tax) for JobKeeper 2.0 based on an 80 hour threshold

  • to advise the ATO via STP which tier is relevant for each employee

  • to make top up payments where appropriate by 31 October 2020 (see table: JobKeeper key dates)

 
Please note the ATO is regularly updating their website with more information

If you are not eligible for JobKeeper 2.0, you do not need to notify the ATO of your ineligibility.
 
Business Victoria grants
 
You may be eligible for a grant if your business operates in an industry sector that is Restricted, Heavily Restricted or Closed and for which restrictions are not easing between the First and Second Steps 

grant is also available to sole traders – conditions apply

Harper Group Pty Ltd – Chartered Accountants Frankston - Ph 9770 1547 

Disclaimer: All information provided in this article is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information. 

Guest User