The Job Keeper Payment...

Never in a million years did I ever think I'd see these kind of measures by a liberal government...

WHY: To keep your staff employed and/or to re-engage them if you've stood them down already.

HOW MUCH: $1500 per fortnight per employee for up to 6 months

ELIGIBILITY: Business turnover will be reduced more than 30% relative to a comparable period a year ago (of at least one month)

HOW: You must apply to participate in the scheme through ATO and provide supporting information demonstrating downturn.

REPORTING: Each month you must report the number of eligible employees.

STARTING WHEN: For employees that were on the books at 1st March 2020 and continue to remain employed.

WHO: Employees who are full-time, part-time, long-term casuals and stood down employees. Eligible casuals = employed on a regular basis for at least the previous 12 months at 1 March 2020.

RESTRICTIONS: Employees must be Australian citizen, hold a permanent visa or possess a special category visa to be eligible.

FIRST PAYMENT DUE: First week of May with the subsidy starting 30th March 2020. Paid on a monthly basis in arrears.

PAYMENT INFO: 1. Some employers may top up payments to employees to usual wages levels 2. Some staff may end up receiving more money than usual as the full $1500 per fortnight MUST be passed onto the employee. 3. If an employee has been stood down, the employer must re-engage at a minimum of $1,500.

OTHER RANDOM INFO: 1. Superannuation does not need to be paid (employer decision) 2. Only the primary employer to receive the payment where multiple employers exist 3. Applies to sole traders with 30% downturn

WHAT DO I DO NOW: Register your interest on the ATO website.

Taxchic out. x