– Check that you and your employees meet the eligibility requirements.
Are you an eligible employer?
Employers are eligible for the JobKeeper payment if all of the following apply:
How do you calculate your turnover decrease?
This test is satisfied where your projected GST turnover for the turnover test period falls short of your current GST turnover for the relevant comparison period, by the specified percentage (generally 30%).
a) Identify your turnover test period
Choose whether you are comparing your monthly or quarterly turnover. You can choose to compare the relevant month or quarter, regardless of whether you report quarterly or monthly.
So if you lodged quarterly BAS, you may select June quarter 2020, or you may select the month of April, 2020 for example.
b) Identify your relevant comparison period
Same period as above… in 2019.
i.e. June, 2019 quarter, or for example month of April, 2019.
c) Work out your relevant GST turnover
Cash or accruals basis
You may use an accruals basis of accounting to calculate both the current GST turnover and projected GST turnover as both calculations require you to include sales that you have made or are likely to make without any reference to when you are paid.
However, if you prepare your activity statements on a cash basis, the ATO will allow you to calculate both the current and projected GST turnovers on a cash basis. The basis used must be the same for calculating your projected and current GST turnover.
Typically, current turnover will equal your GST exclusive sales less your input taxed supplies.
Estimating your projected GST turnover
You need to identify the sales you made, or are likely to make, during the turnover test period.
Given that you can test eligibility part way through a period, when applying the fall in turnover test, you need to consider what you expect to happen for the remainder of that period. Relevant considerations include:
The reasons for a fall or expected fall in turnover are not prescribed and are not limited only to the direct impacts of the coronavirus.
d) determine which shortfall % applies
(Aggregated TO under $1 billion) will be 30%.
e) Determine if GST turnover has fallen by the specified shortfall percentage
(all figures excluding GST)
e.g. April, 2019 TO $100,000
April, 2020 TO $65,000
A fall of ($100,000 – $65,000) = $35,000 reduction
$35,000 / $100,000 = 35% reduction
Based on the TO drop, you may be an eligible employer
More detailed summary is here
Also you may be able to satisfy an alternate test if a new business etc
Are you or your employees eligible?
You are an eligible employee if you:
Note, this one will unfortunately result in certain employees not being eligible, or needing to make the right and only choice.
Further details here
You need to notify your employees you will nominate them for JobKeeper payments and complete the nomination notice to confirm your agreement.
Ensure you continue to pay the minimum $1,500 before tax to each eligible employee each fortnight (starting with the fortnight 30 March – 12 April) to claim the JobKeeper payment for that fortnight.
– Today is the first day for formal registration, being 20.04.2020
– If you wish to claim payments for April, you must complete this process by 30.04.2020
Log into your myGovID account and complete the application form (bank details and estimated number of employees who will be eligible for April Jobkeeper payments)
Have you got your MyGovID and relationship access manager sorted with ATO on your phone?
Per ATO, you must do this by the end of April to claim JobKeeper payments for April.
– Continue payments – On Time!
Continue to pay employees you are claiming for either
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Note: If you successfully refer our office a new business client, we can offer this COVID planning service at 50% off the final COVID planning invoice i.e. provide you with a further 35% discount, adding to the original 15% reduction.