The Last About JobKeeper

 


 

 

✅ How to Appy for JobKeeper

✅ Employer Scenarios - Elegibility and Benefits

✅ Which Business Are Elegible?

✅ There Are Now Eligiblity Tests and Reduced Two-Tier (Tier 1 and Tier 2) Payment Rate

✅ 13 Questions Business Have For Accountants Right Now

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There are now new eligibility tests and a reduced two-tier (Tier 1 and Tier 2) payment rate, starting from 28 September 2020.

Turnover Test Employers will need to reassess their turnover for each of the 2 new periods: Extension 1 (28 September 2020 to 3 January 2021), you'll need to demonstrate that your actual GST turnover has fallen in the September 2020 quarter and compare it to the same quarter in the previous year. Extension 2 (4 January 2021 to 28 March 2021) , you'll need to demonstrate that your actual GST turnover has fallen in the December 2020 quarter and compare to the previous year’s quarter. Employee Eligibility Test The new test date for assessing employees is 1 July 2020. Employees must be fulltime, part-time or long term casual employees employed as of 1 July 2020. Employers must calculate the correct JobKeeper rates for each employee: 28 September 2020 to 3 January 2021   Worked 20 hours or more: $1,200 per fortnight Worked under 20 hours: $750 per fortnight 4 January 2021 to 28 March 2021  Worked 20 hours or more: $1,000 per fortnight Worked under 20 hours: $650 per fortnight...
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WHICH BUSINESSES ARE ELIGIBLE?

Eligible employers are businesses (including companies, partnerships, trusts, sole traders), not for profits and charities: • with a turnover of less than $1 billion whose turnover has fallen by more than 30% (of at least one month), or • with a turnover of $1 billion or more whose turnover has fallen by more than 50% (of at least one month). • Big banks subject to the Major Bank Levy are not eligible. Most businesses are expected to be able to establish that their turnover has fallen in the relevant month or three months (depending on the natural activity statement reporting period of that business) relative to their turnover a year earlier in 2019. However where a business’s turnover a year earlier is not representative of their usual or average turnover, (e.g. because there was a large interim acquisition or their turnover is typically highly variable) the Tax Commissioner will have discretion to consider additional information that the business can provide to establish that they ha...
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