COVID-19 Update | JobKeeper Payment
In the last few weeks we have put out three newsletters to our clients in relation to the various stimulation announcements being made by the Government as a direct result of the COVID-19 pandemic.
The one that has been most relevant to small businesses and which we have fielded numerous calls about in the last week, in particular, is the JobKeeper Payment announcement which is where employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum of 6 months.
To receive the JobKeeper Payment, employers must:
Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline;
Provide information to the ATO on eligible employees. This includes information on the number of eligible employees engaged as at 1 March 2020 and those currently exmployed by the business (including those stood down or rehired). For most businesses, the ATO will use Single Touch Payroll data to pre-populate the employee details for the business.
Ensure that each eligible employee recevied at least $1,500 per fortnight (before tax). For employees that were already receiving this amount from the emloyer then their income wil not change. For employees that have been receving less than this amount, the employer will need to top up the payment to the employee up to $1,500.
Notify all eligible employees that they are receiving the JobKeeper Payment.
Continue to provide information to the ATO on a monthly basis, including the number of eligible employees employed by the business.
You may recall that we mentioned in one of those earlier newsletters that we would call all of you over the next 10 to 15 business days and we have systematically started making those calls and also been fielding calls from our clients on an ad hoc basis. Please be patient as we are working through the list to ensure that we contact you all on an as soon as practicable basis.
"We undertake that we will contact all of our clients that are affected in the next 10 to 15 business days to make sure that we have gone through our COVID-19 business checklist with you to make sure you maximise your entitlements to Government assistance"
Once we have worked through the checklist with you we will send you an agreed actions and timeline for the processes required to be undertaken by your business and Ezetax to ensure that you are registered for the JobKeeper and other incentives that are being offered by the Government.
If you would like any further information or assistance with understanding some of the COVID-19 announcements and stimulus packages on offer, do not hesitate to contact us on 08 9249 7422 or contact us via our website here - www.ezetax.com.au.