JobKeeper Payment now officially passed by the Government
Written on the 8 May 2020 by Arrow
On April 8th, the JobKeeper package was passed by both sides of Parliament and legislated. This update offers further guidance on the scheme.
Workers with multiple jobs
For businesses who reasonably expect their turnover to fall in the coming month by either 30% or at least 50% for those with a turnover of more than $1 billion relative to that of a previous year, the ATO will provide guidance about self-assessment of actual and anticipated falls in turnover.
If you do not initially meet the turnover test at the start of the scheme on March 30, the business can receive the payment once the turnover test has been met.
For new businesses or businesses with a 'lumpy' income, the Tax Commissioner has discretion to set out alternative tests that will establish eligibility in specific circumstances. There will also be some tolerance for employers, who in good faith estimate a 30% or 50% all in turnover but actually experience a slightly smaller fall.
JobKeeper Payment clarification.
Employees who have been stood down without pay after March 1 2020, will receive the full $1,500 before tax, per fortnight.
Employees who usually earn less than $1,500 a fortnight before tax, are to be 'topped up to $1,500 per fortnight.
Employees whose hours have been reduced and now earn less than $1,500 per fortnight, are to be topped up to $1,500 per fortnight.
Employees who were let go after March 1 who have been re-hired will be eligible.
Self employed and other eligible businesses
Director Fees Only one person in a director capacity may receive the payment and that individual may not receive the payment as an employee.
Trusts Trust can receive JobKeeper payments for any eligible employees. where beneficiaries only receive distributions, rather than being paid a wage for work done, only one individual beneficiary can be nominated to receive the JobKeeper Payment.
Partnership only one partner can be nominated to receive a JobKeeper Payment along with any eligible employees.
Company where an eligible business pays shareholders in the form of dividends, in lieu of a wage, only one shareholder will be eligible to nominate for the JobKeeper Payment
If you have not already registered, please go to https://www.ato.gov.au/Job-keeper-payment/. Once you have registered you will receive information and updates from the ATO about how and when to claim the JobKeeper payments.
Information in this article is sourced from: