The ATO are continually releasing information about the administration of the JobKeeper Payment.
The information can be found on the ATO website: https://www.ato.gov.au/general/JobKeeper-Payment/
You can read our earlier posts in relation to the JobKeeper Payment here:
Payment application steps
Once you have enrolled for the JobKeeper Payment (per the above steps), there will be ongoing requirements to apply for the actual payment:
1. Apply to claim the JobKeeper payment by logging into the ATO Portal (available from 4 May 2020 onwards).
2. Ensure you have paid each eligible employee a minimum of $1,500 per JobKeeper fortnight before tax.
3. Identify your eligible employees in the application form.
4. Submit confirmation of your eligible employees online and wait for your confirmation email or SMS showing it has been received.
5. Notify your eligible employees that you have nominated them.
6. Receive payment from the ATO.
7. Each month, reconfirm that your eligible employees have not changed. You do not need to retest your reported fall in turnover but you will need to provide some information as to your current and projected turnover. This will be done in your monthly JobKeeper Declaration report.
8. If your eligible employees change or leave your employment, you will need ot notify us through your monthly JobKeeper Declaration report.
DISCLAIMER: The information in this article is general in nature and is not a substitute for professional advice. Accordingly, neither TJN Accountants nor any member or employee of TJN Accountants accepts any responsibility for any loss, however caused, as a result of reliance on this general information. We recommend that our formal advice be sought before acting in any of the areas. The article is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our consent.
Jeanette has over 20 years experience as an accountant in public practice. She is a Chartered Accountant, registered tax agent and accredited SMSF Association advisor. When she is not helping business owners grow their empires, you will likely find her out running on the trails or lifting weights in her local CrossFit gym. Book in to see Jeanette today.