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JobKeeper 1.0 has now ended

Time to consider JobKeeper 2.0?

JobKeeper Assessment is changing

You may have qualified for the last round of JobKeeper on a monthly basis, or even projected figures into the future. This is no longer an option.

Eligibility for JobKeeper 2.0 will be determined by:

July - September ACTUAL Turnover 2019 versus July - September ACTUAL Turnover 2020.

What is included in Turnover?
  • Sales - (Either Cash or Accruals depending on your BAS Reporting Method). There is no discretion here
  • Disposal of Assets (I Know, this is not fair!)
Is there any other way to determine eligibility?

Potentially. The alternative tests are still available but the access to these alternative test are extremely restricted.
  • Business Commenced during the test period so not able to be used.
  • Business has undertaken a Restructure (bought or sold part of the business)
  • Rapid Growth of a business leading up to the test period
  • Lumpy/Irregular Income
  • Business Operator is Absent during a Test Period (Income Protection/illness)
Ok... I think I qualify, What else is changing?
For starters, the amount is no longer a set $1,500 per fortnight, and the amounts are Tiered based on hours of work.
 

Tier 1 rate: $1,200/ Fortnight

Tier 2 rate: $750 per Fortnight

This rate applies to:

  • eligible employees who worked for 80 hours or more in the four weeks of pay periods before either 1 March 2020 or 1 July 2020, and
  • eligible business participants who were actively engaged in the business for 80 hours or more in February and provide a declaration to that effect.

This rate applies to:

  • any other eligible employees and eligible business participants.

This is especially important for Self Employed Businesses claiming the JobKeeper if they are not working and have not been working for some time.
 
Between 1 and 31 October 2020 – check and submit the business actual decline in turnover to ATO online to be eligible for JobKeeper extension 1. See, actual decline in turnover test.
31 October 2020 – for the JobKeeper fortnights from 28 September 2020 and 12 October 2020 only, we are allowing employers until 31 October 2020 to meet the wage condition.
Between 1 and 14 November – complete a monthly business declaration and tell us the payment tier being claimed for each eligible employee.
Find Out More
P&L Accountants can re assess your eligibility on your behalf. Note a fee will apply for this assessment due to the extensive work that is involved if the alternative tests are required to be used. Due to no 2 businesses being alike, there will be no set fixed fee for this round.
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