Tips for completing the JobKeeper process
To make sure you are on the right track with applying for the JobKeeper payment we recommend:
- Checking that you are enrolled correctly with the ATO. We are seeing many clients have ‘registered their interest’ for the scheme (back many weeks ago) but unfortunately this does not mean you are enrolled. See how to correctly enrol here. The enrolment is completed via your Business Portal.
- Keep a copy of your enrolment receipt once your application is processed, as you may need this later.
- Ensure you have put together a file showing how you assessed your eligibility and the workings and calculations on your projected turnover, the ATO have advised this is what you need to rely on in the event of a later review by them.
- If you have successfully enrolled for the JobKeeper payments you need to make sure that you have paid each eligible employee at least $1500 before tax per fortnight and double check your Single Touch Payroll (STP) is set up correctly. If you do not continue to pay your employees for each pay period, you will cease to qualify for the JobKeeper payment.
- From 4th May onwards you will need to make your monthly business declaration via the Business Portal. This is an important next step to complete or you won’t receive payment from the ATO.
Alternative Turnover Tests
The government has announced there are alternative tests made available when the basic test is not satisfied or for fall in turnover for classes of entities where there is not an appropriate relevant comparison period. You can find circumstances where an alternative test applies here.
Situations where the Alternative Test may be adopted include businesses that have undergone restructure, newly acquired businesses or businesses with a substantial increase in turnover in the last 12 months.
We are finding these calculations very complex, so please get in touch if you need to engage us to work with you. We have tried to keep our clients updated as much as possible with this process, it is new to us all. If you have any further questions please don’t hesitate to contact us on 07 5451 1118.