JobKeeper Payments - 9 step guide - Dalcorp Accounting Services

(updated 8th Aug 2020)

Businesses who have been significantly impacted by COVID-19 will be able to access a wage subsidy to continue paying employees. Under the JobKeeper program you will be able to claim a fortnightly payment of $1,500 per eligible employee from 30th March 2020. This measure is designed to ensure eligible employers remain connected to their workforce and to assist businesses restart quickly, once the crisis is over.

Changes announced 7th August 2020

The date of employment for eligible employees will be moved from 1 March 2020 to 1 July 2020. This change is relevant from 3rd Aug 2020 (JobKeeper fortnight 10 and onwards)

Please refer to the updated treasury notes

9 step guide – for employers

Step 1: Be aware of your responsibilities and the integrity measures. The framework for the JobKeeper Payment has robust features to ensure integrity and allow swift and effective action to be taken against fraud and other abuse. Therefore it is essential for you to read & understand this integrity document prior to applying for the JobKeeper Payments.

Step 2: Work out if you are an eligible employer

Tip: regarding the “turnover test”, this can include calculating your actual or projected decline in turnover for the month of March, the month of April or the quarter starting 1 April. Note that this is not simply the sales reported on your BAS.

Step 3: Determine if your employees meet the eligibility requirements.

Step 4: Continue to pay at least $1,500 (before tax) to each eligible employee per JobKeeper fortnight.

Tip: if your staff typically earning less than $1500 a f/n you could face a large increase in your payroll expenses that you must cover from your own resources before being reimbursed from the ATO. You must also ensure that superannuation, payroll taxes and other costs are paid according to your obligations.

Step 5: Notify your eligible employees that you intend to claim the JobKeeper Payment on their behalf and confirm they aren’t claiming the JobKeeper payment through another employer or nominated business.

Step 6: Have your employees complete the JobKeeper Employee Nomination Notice. You must keep this signed notice on file and also provide a copy to our office.

Step 7: You can enrol for the JobKeeper Payments using the Business Portal and authenticate with your myGovID. You must do this by the end of your eligible month in-order to claim JobKeeper payments for that month. In the online form, provide your bank details and indicate if you are claiming an entitlement based on business participation, for example if you are a sole trader.

Step 8: Identify and maintain eligible employee details using the Business Portal. To claim JobKeeper payments you must specify and identify the number of eligible employees for each JobKeeper fortnight

Step 9: Businesses must make a monthly declaration between the 1st and 14th of each month to receive reimbursements for the JobKeeper payments you made to your eligible employees in the previous month

Need our Help?

If you would like our assistance assessing the criteria, eligibility or applying for the JobKeeper Payments package and/or other Government stimulus packages, please contact our office to discuss our fees for this service.

4 step guide – for self employed (Sole traders, Partnerships, Trusts and Companies)

Step 2: Work out if you are an eligible business participant as a sole trader or if you are an eligible business participant through your eligible business entity such as a Partnership, Trust or Company.

Tip: regarding the “turnover test”, this can include calculating your actual or projected decline in turnover for the month of March, the month of April or the quarter starting 1 April. Note that this is not simply the sales reported on your BAS.

Step 3: You can enrol for the JobKeeper Payments using the Business Portal and authenticate with your myGovID. You must do this by the end of your eligible month in-order to claim JobKeeper payments for that month. In the online form, provide your bank details and indicate if you are claiming an entitlement based on business participation, for example if you are a sole trader.

Step 4: Business participants must make a monthly declaration between the 1st and 14th of each month to receive reimbursements for the JobKeeper payments for the previous month.