RSM Australia

JobKeeper

JobKeeper Payments - is your business eligable?

COVID-19 | JobKeeper Payment for Employers

Under the JobKeeper program, businesses and not-for-profits affected by COVID-19 will receive fortnightly payments to help cover the costs of wages of their employees. The JobKeeper program starts on 30 March 2020 and ends 27 September 2020.

Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer.

Information for employers

If your business has been significantly impacted by the Coronavirus you will be able to access a wages subsidy to continue paying your employees. Under the JobKeeper program, you will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020. This assistance will help you keep staff and restart when the crisis is over.




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Additional Reading



JobKeeper 2.1 - Treasury announces further changes to JobKeeper payment

7 August 2020
In response to the significant impact of coronavirus restrictions on business owners in Victoria, and likely impacts to follow in NSW, Treasury has announced further changes to the JobKeeper V2.0 proposals originally announced in July.

COVID-19 Financial Reporting: Accounting for government assistance

7 August 2020
As the COVID-19 pandemic continues to have a serious impact on the economic environment, governments continue to provide different forms of assistance to affected entities.

Taxation Determination TD 2020/D1 release creates issues

6 August 2020
In a move that is sure to cause headaches for companies claiming the R&D Tax incentive, the ATO published draft Taxation Determination TD 2020/D1 Income tax: notional deductio

JobKeeper 2.0 Updates

3 August 2020
A quick recap as JobKeeper 2.0 has been announced. Time is starting to run out for instant deductions on plant purchases.

Webinar: JobKeeper 2.0 | 24 July 2020

24 July 2020
The Federal Government has released further details surrounding the much anticipated changes to the JobKeeper Payment. 

New announcement and changes to JobKeeper 2.0 - What it means for business owners

21 July 2020
The government has today released more detail surrounding much anticipated changes to the JobKeeper program.

A better approach to JobKeeper?

20 July 2020
With speculation rife over the future of the JobKeeper scheme, we explore what has worked with the scheme, what hasn’t and possible changes to the scheme that may be considered when the Treasurer releases his economic update and the results of the Treasury review into the scheme.

JobKeeper - Will your records sustain an ATO review?

10 July 2020
The ATO have recently updated their ‘Keeping JobKeeper Fair’ guidance and have provided examples of the type of activity they are targeting when reviewing eligibility.

Jobkeeper deadline - extended again?

11 June 2020
A “systems issue” at the ATO’s end on the last day of enrolment caused frustration for entities that tried to log in but were locked out and could not access the portal. 

Do you have the evidence ready for a JobKeeper claim review by the ATO?

5 June 2020
The first of June is traditionally the start of winter but, for the tax-minded amongst us, 1 June 2020 also marks the official start of the next phase of the JobKeeper scheme.

Superannuation Amendments for JobKeeper Payments

4 June 2020
Welcome news has finally arrived for employers with confirmation that the proposed amendments to the superannuation guarantee rule in relation to JobKeeper top-up payments have been registered. This should now provide employers certainty on their superannuation guarantee obligations for the June quarter.

JobKeeper and record keeping – what you need to know about projected GST turnover

1 June 2020
JobKeeper payments are now trickling in to give a much-needed boost to the cashflow of eligible businesses which is a cue to remind businesses of the compliance and that it is critical to ensure records are reasonable enough to substantiate any future queries.

JobKeeper and Compulsory Superannuation Guarantee

1 June 2020
The Coronavirus Economic Response Package (Payment and Benefits) Rules 2020 (JobKeeper rules) were registered by the Treasurer on 9 April 2020.

Employers to beware of hidden payroll tax and WorkCover costs of JobKeeper payments

20 May 2020
By and large, the JobKeeper Payment scheme is a much-welcome lifeline for employees and employers alike, especially now that the payments have started to flow. However, from an employer’s point of view, they need to be aware that they may be forced to bear some of the costs of administering the scheme.

JobKeeper – Service entities, schemes and more complex rules

5 May 2020
The legislative instrument setting out the modified rules for service entities, among other things, was registered by Treasury late in the evening on Friday 1 May 2020.

Demystifying the substantial increase in turnover test

5 May 2020
The legislative instrument and associated guidelines around the alternative decline in turnover tests that can be applied by an entity in order to qualify for the JobKeeper scheme have recently been released.

COVID-19 and transfer pricing issues: Potential JobKeeper Payment Implications

5 May 2020
COVID-19 has had a very adverse impact on the cash flows of many Australian businesses, who will be looking closely at the JobKeeper Payment regime and whether their turnover has declined by the requisite percentage. 

Important changes to the JobKeeper Program

24 April 2020
The Treasurer, the Hon Josh Frydenberg has announced the government will make further changes to the JobKeeper payment rules.  We summarise the changes below and will provide further updates when they come to hand.  

Webinar: JobKeeper payment and tax implications | 24 April 2020

24 April 2020
This webinar analysed the JobKeeper payment scheme unveiled by the Australian federal government in response to the Coronarvirus (COVID-19) pandemic and also information around the tax implications.

JobKeeper Payment - new ways to prove decline in turnover

23 April 2020
The Commissioner of Taxation (the Commissioner) has now issued the much-anticipated legislative instrument setting out the alternative decline in turnover tests that can be applied by an entity as part of satisfying the eligibility criteria for the JobKeeper payment scheme.  

The JobKeeper payment for your SME business

21 April 2020
Enrolment applications for the JobKeeper payment have now opened and for many business owners, the program will provide a much needed lifeline.

New announcements to the 'JobKeeper Payments'

7 April 2020
In recent days, the Federal Government has made updates to the JobKeeper payment Fact Sheet, providing clarity surrounding eligibility for certain individuals and consolidated groups, and extending the eligibility criteria for eligible charities.

Cash flow options for Optometry Practices

3 April 2020
These are unprecedented times for optometry practices across Australia. One thing is certain: the far-reaching economic impact of COVID-19 is having a significant impact on optometry practice cash flow. What options are available to optometrists to help their businesses survive in these difficult times?

$1,500 'JobKeeper' payment - Further support to businesses to retain workers

31 March 2020
The Federal Government announced on 30 March 2020 further support measures for businesses and individuals impacted by COVID-19.  The JobKeeper payment for eligible employers will be effective from 30 March 2020 and delivered through the tax system.