JobKeeper 2.0 has been extended until March 28 with details outlined below.
- Completion of the December business monthly declaration has been extended from the usual 14th of each month to 28 January 2021.
- From 4 January, the second extension period for JobKeeper will begin and covers the fortnights between 4 January and 28 March. Payment rates will fall to $1,000 per fortnight for those on the tier 1 rate, and $650 per fortnight for those on tier 2.
- To claim JobKeeper payments for this period, you will need to show that your actual GST turnover has declined in the December 2020 quarter relative to a comparable period (generally the corresponding quarter in 2019). See more information here: Actual decline in turnover test | Australian Taxation Office (ato.gov.au)
- All former criteria for JobKeeper eligibility remain the same. (New enrolments in JobKeeper are also accepted from 4 January providing all criteria for decline in turnover are met.)
- Remember that JobKeeper payments are made in arrears. You must have made payments to your employees (met the wage condition) to be reimbursed.
If you are enrolling for the JobKeeper payment for the first time, the ATO advises that you will need to complete the following actions by the end of the month that you wish to claim for:
- Enrol for the JobKeeper payment online (be aware that it may take up to three days to process before you can submit your decline in turnover form and identify your eligible employees).
- Submit your decline in turnover form.
- Identify your eligible employees or business participant and tell the ATO whether the tier1 (higher) or tier2 (lower) payment rate applies to them.
- Eligible employers will be able to access and submit the decline in turnover form to determine their eligibility to participate in the second JobKeeper Payment extension period from 4 January 2021 to 28 March 2021.
More information on JobKeeper for 2021 is available here: JobKeeper key dates | Australian Taxation Office (ato.gov.au)Read More