[vc_row][vc_column][vc_column_text]JobKeeper, Registration and process

Treasury has released its Rules, a useful Explanatory Statement and updated Factsheets.[/vc_column_text][mk_button dimension=”flat” corner_style=”rounded” size=”medium” url=”https://treasury.gov.au/coronavirus/jobkeeper” target=”_blank” align=”none”]Click here[/mk_button][vc_column_text]It is now over to the ATO to administer and they have been busy providing significant information regarding the scheme and the process for eligible Employers.[/vc_column_text][mk_button dimension=”flat” corner_style=”rounded” size=”medium” url=”https://www.ato.gov.au/General/JobKeeper-Payment/Employers/” target=”_blank” align=”none”]Click here[/mk_button][vc_column_text]On-line registration is available from April 20.[/vc_column_text][mk_button dimension=”flat” corner_style=”rounded” size=”medium” url=”https://www.ato.gov.au/general/jobkeeper-payment/employers/enrol-and-apply-for-the-jobkeeper-payment/” target=”_blank” align=”none”]Click here[/mk_button][vc_column_text]Other deadlines exist in terms of employee nominations, payments and updates to the ATO.

Time is of the essence given that the second JobKeeper fortnight has just started.
Deadlines include:

• Employees to return nomination notice by end of April https://www.ato.gov.au/Forms/JobKeeper-payment—employee-nomination-notice/
• ATO to be notified of confirmed eligible employees (online process available from May 4)
• Within 7 days of nomination to the ATO notify the eligible employees in writing
• Payment of minimum $1,500 gross each fortnight (or such other permitted period)

[/vc_column_text][vc_column_text]Decline in GST Turnover

• Of particular importance is that an entity wishing to claim in April needs to determine that having regards to the months of March or April or quarter ending June 30 that their projected turnover is down 30% or more when compared to the equivalent period last year.
• Care should be taken here as the manner in which you lodge a BAS may not be the relevant GST Turnover (Eg Cash or Accruals).

[/vc_column_text][vc_column_text]Non-employed Business Participants

Business participants are individuals connected to an entity in any of the following prescribed ways:

• Sole trader – the individual is the entity
• Partnership – the individual is a partner in the partnership
• Trust – the individual is an adult beneficiary of the trust
• Company – the individual is either a director or a shareholder in the company

Subject to meeting the criteria each entity can also nominate one person actively engaged in the business who is not employed by the entity.

Individuals

To be eligible for the Jobkeeper payment as a Business Participant an individual must:

Not be employed by the entity
Not be employed by any other entity (unless as a casual)
Not be entitled to a Jobkeeper payment from another entity
Be actively engaged in the business carried on by the entity
Be 16 years or over on 1 March 2020
Satisfy one of the following residency requirements:

• Reside in Australia and is either an Australian citizen, the holder of a permanent visa or a protected special category visa; or
• Be a resident of Australia for tax purposes and hold a Subclass 444 visa

[/vc_column_text][vc_column_text]Most of the processes can be done online via your Business Portal or alternatively the Trove team as your tax agent can assist.

Please contact us to discuss your business’s eligibility requirements to this as well as other possible concessions under the broad range of recent Federal and State Government announcements.[/vc_column_text][/vc_column][/vc_row]