JobKeeper Payment

The ATO have finally released more information on how the JobKeeper payments are going to work and what’s involved.

Most of the information about Employers and their employees has already been released and you can find all the relevant information here: https://www.ato.gov.au/General/JobKeeper-Payment/

From next week, employers and/or their tax professionals will be able to apply for the payments. It is important to note that any eligible employees need to have the $1,500 (before tax) payments, paid to them for the relevant periods (the first being 30 March - 12 April) by the end of April for the business and employees to qualify for the reimbursement in May. 

If payments to employees are not made in the periods they are required, then the reimbursement will not happen.

For any business owners who are aren’t paying themselves through the PAYG system, may also be eligible for the $1,500 a fortnight payment, however, the process to claim this will be slightly different and it isn’t yet clear on how this process will work. Eg. Sole traders, partners of a partnership, beneficiary of a trust, director/shareholder of a company. 

For more information or clarification on whether you or your employees are eligible, please contact us for a chat obligation free.