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Posted: 17th April
The JobKeeper registration and enrollment period begins 20 April 2020.
The JobKeeper Payment will be available from 30 March 2020.
The JobKeeper Payment will be available for the period until 27 September 2020
The first payments by the ATO will be received by employers from the first week of May.
The first government payment period ends 12 April 202 which means a minimum of $1500 must be paid to employees by this date. However, the ATO will provide a concession for qualifying in April if $3000 minimum is paid by 26 April 2020.
The payments will be made by the ATO monthly in arrears.
Posted: 2nd April
Under the JobKeeper Payment, businesses impacted by the coronavirus will be able to access a subsidy from the Government to continue paying their employees. Affected 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.
The economic impacts of the coronavirus pose significant challenges for many businesses – many of which are struggling to retain their employees.
Under the JobKeeper Payment, businesses significantly impacted by the coronavirus outbreak will be able to access a subsidy from the Government to continue paying their employees. This assistance will help businesses to keep people in their jobs and re-start when the crisis is over. For employees, this means they can keep their job and earn an income – even if their hours have been cut.
The JobKeeper Payment is a temporary scheme open to businesses impacted by the coronavirus. The JobKeeper Payment will also be available to the self-employed.
The Government will provide $1,500 per fortnight per employee for up to 6 months.
The JobKeeper Payment will support employers to maintain their connection to their employees. These connections will enable the business to reactivate their operations quickly – without having to rehire staff – when the crisis is over.
Employers will be eligible for the subsidy if:
Eligible employees are employees who:
If your employees receive the JobKeeper Payment, this may affect their eligibility for payments from Services Australia as they must report their JobKeeper Payment as income.
Eligible employers will be paid $1,500 per fortnight per eligible employee. Eligible employees will receive, at a minimum, $1,500 per fortnight, before tax, and employers are able to top-up the payment.
Where employers participate in the scheme, their employees will receive this payment as follows.
It will be up to the employer if they want to pay superannuation on any additional wage paid because of the JobKeeper Payment.
Payments will be made to the employer monthly in arrears by the ATO.
The subsidy will start on 30 March 2020, with the first payments to be received by employers in the first week of May. Businesses will be able to register their interest in participating in the Payment from 30 March 2020 on the ATO website.
BUSINESSES WITH EMPLOYEES
Initially, employers can register their interest in applying for the JobKeeper Payment via The Australian Taxation Office (ATO) from 30 March 2020.
Subsequently, eligible employers will be able to apply for the scheme by means of an online application. The first payment will be received by employers from the ATO in the first week of May.
Eligible employers will need to identify eligible employees for JobKeeper Payments and must provide monthly updates to the ATO.
Participating employers will be required to ensure eligible employees will receive, at a minimum, $1,500 per fortnight, before tax.
It will be up to the employer if they want to pay superannuation on any additional wage paid because of the JobKeeper Payment.
Further details for businesses for employees will be provided on ato.gov.au.
BUSINESSES WITHOUT EMPLOYEES
Businesses without employees, such as the self-employed, can register their interest in applying for JobKeeper Payment via The Australian Taxation Office (ATO) from 30 March 2020.
Businesses without employees will need to provide an ABN for their business, nominate an individual to receive the payment and provide that individual’s Tax File Number and provide a declaration as to recent business activity.
People who are self-employed will need to provide a monthly update to the ATO to declare their continued eligibility for the payments. Payment will be made monthly to the individual’s bank account.
Information sourced: https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business/jobkeeper-payment
If you're an eligible business applying for Jobkeeper payments, you will have the option to apply yourself through the Business Portal, or using your tax professional.
If you are using your tax professional, talk to them about next steps.
To access the Business Portal and apply yourself, you need to set up your myGovID and link it to your business in Relationship Authorisation Manager (RAM).
myGovID is an app you download to your smart device to prove who you are online. It's like the 100 point ID check, but on your smart device. It’s different to a myGov account.
RAM is an authorisation service that allows you to act on behalf of an entity with participating government online services.
Together, myGovID and RAM provide a flexible, easy and secure way to access our Business Portal.
1. Download the myGovID app to your smart device and set it up using your identity documents. Anyone who accesses our online services on behalf of your entity will need their own myGovID.
2. Log in to RAM (access RAM by visiting https://info.authorisationmanager.gov.au) using your myGovID and link your entity’s ABN. The way you link depends on whether you’re an eligible individual associate or a primary person.
3. Once your ABN is linked, you can start setting up and managing authorisations. When you authorise someone they’ll receive an authorisation request via email to act on behalf of your entity online.
Find out more about what you need to do at www.ato.gov.au/mygovid
For more information on the Jobkeeper payments you can visit www.ato.gov.au/jobkeeper
If you are a business and have been impacted by the coronavirus (COVID-19), you may be eligible to access the JobKeeper Payment.
Before you enroll for the JobKeeper Payment, you need to complete the JobKeeper employee nomination notice to:
- notify your eligible employees that you intend to participate in the scheme
- ask them if they agree to be nominated and receive payments from you as part of the scheme.
Posted: 3rd April
We wanted to let you know about the process cashflow has currently put in place to allow you to record JobKeeper Payments in Cashflow Manager Gold, Wages Manager, and Wages 1-4. Please be advised this is subject to change as cashflow awaits further details from the ATO.
You can find out how to process JobKeeper Payments here
The latest version of Cashflow Manager, V11.5.9, was released on Wednesday 1st April 2020. If you are not on this version, please update here to ensure you can lodge your BAS digitally using the new MyGovID and RAM process.
Please note, if you are currently using retired versions of Cashflow Manager, they will not be supported.
If you have any questions please call Cashflow's Customer Engagement Team on 1300 887 868 or email accountantsupport@cashflow-manager.com
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