JobKeeper 2 is go, but it is too early to confirm if you qualify.
Confused yet?
Your business needs to measure ACTUAL turnover for the September 2020 quarter and compare to September 2019 using the same method as your BAS. Decline must be 30% or more to be eligible for JobKeeper2 payments.
Important changes to JobKeeper V1 effective 3rd August
Employee eligibility can be tested as at 1st July – this covers casuals for 12 months of service, new hires & eligible business participants.
You must nominate ALL your eligible employees
ATO Cashflow boost 2 will automatically be applied – we’ll confirm any amount due when we lodge for our clients who report monthly.
We are beavering away on BAS lodgments, please respond to our questions promptly. Using the BAS agent extension, we need to lodge your BAS by 25th August or you risk being fined by the ATO. The ATO cashflow boost 1 & 2 (PAYG W refund) will be applied upon lodgement
Don’t panic – the current program will still run until the end of September.
JobKeeper 2.0 will start from 28th September. You won’t be able to confirm eligibility until early October.
To qualify for a tax deduction in this financial year,
April-June super contributions must be received (by fund) by 30th June.
If you haven’t already, you need to make this payment now.
If your cashflow won’t allow for this, the usual deadline of 28th July still applies.
What a croc!
TPARs – Taxable Payment Annual Report
If you are in building & construction services (and a handful of other areas) you need to tell the tax office about payments you’ve made to contractors for their services.
It is time to submit May actual & June estimated sales to the ATO.
This needs to be done by the 14th June for you to receive the JobKeeper payment for May wages.
We need to lodge your March quarterly BAS by 25th May or you risk being fined by the ATO.
This the first BAS the ATO cashboost stimulus applies to.
The sooner we lodge, the sooner you receive the credit!
JobKeeper deadlines have been extended – nothing is due today!
Not currently eligible? Keep checking & apply when you meet the turnover requirements. There are another 5 possible months to enrol.
