JobKeeper legislation, Explanatory Statement and Factsheets from Treasury were released over the Easter Weekend. Unfortunately, some key provisions have changed, and a lot of questions about JobKeeper payments remain unanswered. Our best advice is to wait till further information comes through.
Key outcomes over the Easter Weekend;
1. Businesses wanting to claim JobKeeper Payments will need to register through a new form, to be released on 20th April. Subsequently they will need to report their wages, their monthly turnover, and estimate of next month turnover on a monthly basis as well. This can be done through your access to ATO Business Portal or by us on your behalf.
2. Self employed now can not avail JobKeeper if they also have a permanent job somewhere else.a
3. People employed with two employers (including one employer being their own business) will be allowed to claim JobKeeper from their 'primary employer' only. Clarity on 'primary employer' is still awaited from ATO. ATO website currently only states that you need to choose one of the two employers and notify them.
4. It is apparent that JobKeeper payment will need to be offered to ALL eligible employees. ATO website states you will need to pay each eligible employee a minimum of $1,500 per fortnight before tax to qualify. You can do a catch up payment by 30th April 2020.
5. Each eligible employee will need to be given an ATO approved form for them to opt in or out of JobKeeper Payments. Employees with multiple permanent jobs can choose the employer they wish to opt in. Download the form here. We recommend you start the process of completing these forms, while further information comes through.
ATO is currently releasing their guidelines on JobKeeper Payments as we write this paper. Updated information and registration process can be sourced from here.
We have prepared this interim guide, to give you updates as they come out. This is surely not complete, and is expected to change, as further guidance is received from ATO. This is not a tax or business advise and should be taken as a general guide only. Please contact us to discuss your particular circumstances before you make your decisions on JobKeeper.
Click here for your copy of MGAA JobKeeper Guidance Sheet