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Firm News

JobKeeper – “Identify” wage subsidy to be claimed

By now, your eligible business will have enrolled for JobKeeper.

If not, you have until 8 May 2020 to do so – see our previous post for more info.

It’s now time for the next step:

IDENTIFY

  1. Log into the ATO Business Portal
  2. Click “Identify(the form to identify and maintain eligible employees, for JobKeeper wage subsidies.)
  3. Follow the steps, inputting each employee’s TFN, Date Of Birth and Fortnights (FN) for which the business is claiming JobKeeper.
    • Example – For the whole month of April, you will select ‘Claim FN 1 and 2’.
  4. Input the current ‘April’ GST turnover (excluding GST) as well as the projected turnover for May.
  5. Once submitted, a receipt will be displayed on your screen – save this.

 

Important:

  • You cannot save the form, while you are working on it, and you cannot edit it, once it is submitted.
  • Read the instructions carefully, to make sure you have all the information you need, before you start.

 

If you need any assistance, please do not hesitate to contact us, on (02) 8814 5677.

 

Categories
Firm News

JobKeeper Payment: Enrol by 30 April 2020 [UPDATE: Extended to 8 May 2020]

As of Monday 20 April 2020, eligible businesses can now enrol for the JobKeeper payment.

You must do this by 30 April 2020 to claim JobKeeper payments for April.

The ATO have extended the date that you must to this by to 8 May 2020, in order to claim JobKeeper payments for April 2020.

You can do this by logging into the ATO Business Portal and using your myGovID authentication

 

In the online form:

  • provide bank details
  • indicate if you are claiming an entitlement based on business participation, i.e. if you are a sole trader, partner of a partnership or a trust beneficiary
  • specify the estimated number of employees who will be eligible for:
    • the first JobKeeper fortnight (30 March – 12 April 2020)
    • the second JobKeeper fortnight (13 April – 26 April 2020)

 

JobKeeper has been extended to include a business that is run through a trust, sole trader or partnership structure.

ONE partner in a partnership, ONE beneficiary in a trust, or ONE working director/shareholder in a company are all now able to claim the JobKeeper subsidy.

 

If you need a refresher on the steps that should have been completed already, check out our previous posts:

  1. JobKeeper Payment (Covid-19 Stimulus Package update)
  2. TO ALL BUSINESS OWNERS WHO EMPLOY STAFF (JobKeeper or not?)
  3. JobKeeper – The Next Step

 

We have also created some helpful decision trees:

  1. Is my Business Eligible for Jobkeeper
  2. My Business is Eligible – What Next
  3. Eligible Employees – Payroll Processing

 

Categories
Accounting Business

JobKeeper – The Next Step

Jobkeeper

 

 

  • You’ve already ascertained whether or not JobKeeper applies to you/your employees and and adjusted your pay templates. If not check out our second JobKeeper blog post

What next?

 

  • Continue to pay at least $1,500 to each eligible employee per JobKeeper fortnight (the first JobKeeper fortnight is the period from 30 March to 12 April 2020)

 

  • Be sure to check back here for the next update!

 

If you’re still a bit unsure, no problem, give as a call on (02) 8814 5677

 

 

 

Categories
Accounting Business

TO ALL BUSINESS OWNERS WHO EMPLOY STAFF (JobKeeper)

JobKeeper or not?

By now you should have ascertained whether or not your business qualifies for the new JobKeeper Assistance package.

If so, you should have registered your intent, with the Australian Taxation Office, and received your text reply.

 

What you need to do from 30 March 2020

As advised in our previous post, this package comes into effect from 30 March 2020 and will have affected the first pay run after this date.

Therefore, you need to adjust your payroll system for those employees whose pay will change as a result of this package.

 

Yes/No? What next?

We have prepared a decision tree, to help determine if an employee is affected and what therefore needs to be done to their pay template.

Click here to view our JobKeeper Decision Tree

 

Feel free to contact us if you are unsure of what you need to do or if you need help amending last week’s pay.

 

 

Categories
Accounting Business

JobKeeper Payment (Covid-19 Stimulus Package update)

Last night saw the next stage of the Federal Governments economic relief package – JobKeeper Payment.

EMPLOYERS

In short eligible employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months.

Eligible Employers are those where:

  • their business has a turnover of less than $1 billion and their turnover will be reduced by more than 30 per cent relative to a comparable period a year ago (of at least a month).

For more information for employers follow this link.

 

Eligible employees are employees who:

  • are currently employed by the eligible employer (or were employed by the employer at 1st March 2020 but have since been stood down);
  • are full-time, part-time, or long-term casuals (a casual employed on a regular basis for longer than 12 months as at 1 March 2020);
  • are at least 16 years of age;
  • are an Australian citizen, the holder of a permanent visa, a Protected Special Category Visa Holder, a non-protected Special Category Visa Holder who has been residing continually in Australia for 10 years or more, or a Special Category (Subclass 444) Visa Holder; and
  • are not in receipt of a JobKeeper Payment from another employer.

Employers should register at https://www.ato.gov.au/Job-keeper-payment/

EMPLOYEES

You will receive a notification from your employer, that you’re receiving the JobKeeper Payment.

What do you need to do as an employee?

If you’re an Australian citizen and only have one employer, then you don’t need to do anything.

If not…read on!

Employees in the following circumstances will have additional obligations.

• Employees that have multiple employers must notify the employer that is their primary employer.
• Employees that are not Australian citizens must notify their employer of their visa status, to allow
their employer to determine if they are an eligible employee.
• Employees that are currently in receipt of an income support payment should advise Services
Australia of their change in circumstances online at my.gov.au or by telephone.

For more information for employees follow this link.

 

As always, feel free to give us a call for any further clarification or if you have any questions.