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JobKeeper Updates: Next Steps In The JobKeeper Enrolment Process Are Now Open

5 May 2020

The next steps in the JobKeeper enrolment process are now open on the business portal. Enrolments (Step 1) need to be completed by 31 May in order to claim JobKeeper payments for the initial JobKeeper periods (the fortnights ending in April and May).

The steps that are now also open are:

  • Step 2: Identify and maintain your eligible employees. You can now identify each person that you will claim the JobKeeper payment for on the business portal.  This includes the identification of eligible employees and business participants. 
  • Step 3: Make a business monthly declaration. You are now able to complete the monthly declaration; you will need to provide the business's current and projected GST turnover and reconfirm eligible employees. This is the step that confirms you are entitled to JobKeeper payments for a month.

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JobKeeper Software Updates

29 April 2020

Payroll & Accounting Software Setup

With registrations for the JobKeeper payment having opened on 20 April 2020, payroll and accounting software companies have released guidance on how you should process these payments.

Below are the links to the instructions on how to setup and process for each system.

Xero (see more below)

MYOB AccountRight Live

MYOB Essentials

Keypay (Phoenix & Quickbooks Online)

E-PayDay

The software companies are regularly updating these pages as more information becomes available.

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JobKeeper Updates

27 April 2020

As outlined in our e-Alert last week, applications for the Federal Government’s JobKeeper program are now open.

Under the program the Government will reimburse eligible employers a fixed amount of $1,500 per fortnight for each eligible employee. 

The basic requirement (for businesses with turnover less than $1 billion) is that your business turnover has dropped or is projected to drop by more than 30% in comparison to the corresponding month or quarter in 2019.

For some businesses, the corresponding period in 2019 was not an appropriate comparison and therefore the Government had advised that the ATO would provide for alternative tests for decline in turnover.

 

Extension of time to enrol for JobKeeper

The ATO has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020. If you enrol by 31 May you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes having paid your employees a minimum of $1,500 per fortnight by 30April 2020.

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JobKeeper Applications Now Open and Scheduled to Close 30 April 2020 - Apply Now to Receive April Payments as Early as Possible

20 April 2020

Applications opened yesterday for the Federal Government’s JobKeeper program. The $130 billion program is designed to support businesses and workers. Under the program, the Government will reimburse eligible employers a fixed amount of $1,500 per fortnight for each eligible employee.

The basic requirement (for businesses with turnover less than $1 billion) is that your business turnover has dropped by more than 30% in comparison to the corresponding month or quarter in 2019.

If your turnover hasn’t dropped by 30% in March or April compared to last year, your business may become eligible if the turnover drops or is projected to drop by more than 30% in future periods.

Please contact your Boyce Accountant if you require assistance to determine your eligibility or require assistance to apply for the JobKeeper Payment.

Key dates for initial payments:

20 April   

  • Applications opened

30 April   

  • Pay your eligible employees at least $3,000 for the first two fortnights
  • Have received the completed JobKeeper nomination notices back from employees
  • Applications close to receive April JobKeeper Payments as early as possible

4 May      

  • JobKeeper Payments for April commence this week

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NSW Government Announces Land Tax Relief Measures

16 April 2020

The NSW Government has announced a $440 million land tax relief package to support landlords and tenants during COVID-19.  Under the package commercial and residential landlords will be offered a land tax concession if they pass the savings on to tenants through a rent reduction.  The package is expected to be divided approximately 50/50 with around $220 million going to the commercial sector and a further $220 million expected to benefit the residential sector.

Eligible landlords will be able to apply for a land tax concession of 25 per cent of the land tax payable on relevant properties in the 2020 calendar year. A further land tax deferral for any outstanding amounts for a three-month period will also be offered to landlords who claim the land tax concession.

Landlords will be eligible where:

  • Their land is used for business or residential purposes
  • It is leased to a residential tenant or business tenant with annual turnover of up to $50 million - who can demonstrate financial distress resulting from the COVID-19 outbreak
  • The rent is reduced by at least as much as the tax reduction
  • The land tax is directly related to the property for which rent has been reduced

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