Strategies and advice for businesses to stay in control through COVID-19 and get ahead of the pack

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COVID-19 Business Continuity – 15th April

I’m here with the COVID-19 business continuity update for today, Wednesday 15th April.

In today’s briefing:
1. JobKeeper: how to self-assess your eligibility
2. JobKeeper: key dates and actions
3. Timing of government payments to you

 

1. JobKeeper: how to self-assess your eligibility

 

The ATO has provided simple and clear advice on how to determine a fall in your business turnover. See here:

Further information can be found here: https://www.ato.gov.au/general/jobkeeper-payment/employers/eligible-employers/#

Speak to your Tenfold business coach for assistance on which comparison period will best represent your eligibility for JobKeeper.

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2. JobKeeper: key dates and actions

 

More information is now available about the timing and process for applying for and claiming JobKeeper payments.
Please note: the dates and actions here are only for employee JobKeeper payments – NOT sole traders, directors, trusts or partnerships. The ATO has said they, “will provide more information soon about the eligibility of these businesses for the JobKeeper payment.”

By now, you will have:

Key dates for businesses applying for JobKeeper scheme:

 

From 20th April onwards: enrol for JobKeeper. Most of you have registered for updates and notifications. You will also have to enrol your business for JobKeeper – the ATO will notify you how to enrol from 20th April.

By 30th April: You must have enrolled by the end of April if you plan to claim payments for April. (You can enrol later for subsequent pay periods.)

By 30th April: Your eligible employees must have returned to you their completed the JobKeeper employee nomination notice.

By 30th April: You must have paid each eligible employee. If you hadn’t paid them at least the minimum of $1500 before tax, you can make a top up payment.

4th May: Log in to the ATO Online Services or ATO Business Portal to confirm which eligible employees you will claim JobKeeper Payment for.

 

Key actions for businesses applying for JobKeeper scheme:

 

1. Confirm that each employee agrees to receive your JobKeeper payments. Even if you are relatively sure, you are still required to notify them that you intend to claim JobKeeper for them and pay them the minimum of $1500 per fortnight. It may affect other payments or benefits they receive from Services Australia or their pension.

2. Have each eligible employee complete the JobKeeper employee nomination notice. It must be returned to you by the end of April. Keep it on file – you are not required to submit it to the ATO however you are required to keep this form as part of your records keeping obligations under the law. JobKeeper employee nomination forms are available here: https://www.ato.gov.au/Forms/JobKeeper-payment—employee-nomination-notice/

3. Pay each eligible employee at least the minimum of $1500 before tax for each JobKeeper pay period you intend to claim (the JobKeeper fortnights are: 30th March – 12th April, and 13th April to 26th April – that’s 2 pay fortnights)

4. Enrol for the JobKeeper scheme from 20th April. You must do this by the end of April to claim JobKeeper payments for April.
(The ATO will notify you how to enrol from 20th April – register for info updates here: https://www.ato.gov.au/Job-keeper-payment/)

5. Log in to the ATO Online Services or the ATO Business Portal from 4th May. You will need to log in using your myGovID and establish your authorisations using Relationship Authorisation Manager (RAM). If you haven’t already set up your myGovID authorisation, please do so now.

More detailed instructions on how to access the ATO’s business portal and submit your claim are available here: https://www.ato.gov.au/general/jobkeeper-payment/employers/enrol-and-apply-for-the-jobkeeper-payment/

If you’d like any assistance with these steps, your Tenfold business coach can support you.

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3. Timing of government payments to you

 

Some support payments from the government have already been made, others are coming soon:

Late March: payroll tax refunds have been paid to eligible businesses that lodged the claim. If you are eligible and you haven’t received it yet, contact the State Revenue Office: https://www.sro.vic.gov.au/payroll-tax/covid-19-payroll-tax-relief-claim-reimbursement

From April 21 and April 28: The first instalments of Boosting Cash Flow for Employers will be delivered as credits to your BAS account. If that puts your account in credit, you will receive a refund within 14 days of your BAS lodgement. Expect a minimum of $10,000.

First week of May: JobKeeper reimbursements will be paid to eligible employers. Expect $1500 per eligible employee per fortnight that you have already paid.

Date to be advised: Wage subsidy for apprentices/trainees. Eligible businesses can apply now for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage but the date for reimbursement hasn’t yet been released. Expect $7000 per apprentice/trainee. Your Tenfold business mentor is keeping an eye on updates so they’ll let you know when these dates are announced.

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I’m pleased to see more clarification coming from the ATO – these are good signs.

Ash

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