Latest Federal Government Announcements - Monthly reporting for JobKeeper payments
Businesses that have enrolled for the JobKeeper Payment and identified their eligible employees will need to make a business monthly declaration to the Australian Taxation Office (ATO). A registered tax professional can also do this on their behalf. The monthly declaration can be completed from the 1st to the 14th day of each month, to receive reimbursements for the payments made to employees in the previous month.
As part of this declaration, businesses will need to:
- ensure they have paid their eligible employees at least $1,500 (before tax) in each JobKeeper fortnight that they are claiming for.
- reconfirm their eligible employees and contact and financial details.
- provide information on their current and projected GST turnover, this isn't a retest of their eligibility - it will indicate to us how their business is progressing.
If eligible employees change or leave a business’s employment, they will need to notify the ATO through this step so they can adjust their JobKeeper payments.
To lodge a business monthly declaration:
- log in to the ATO business portal using myGov ID or ATO online services through myGov.
- this step will need to be completed each month to claim payments until the end of the program.
The extended timeframe to enrol for JobKeeper is ending soon
The extended timeframe to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020 is ending shortly. If a business enrols by 31 May, they will still be able to claim for the JobKeeper fortnights in April and May – provided they meet all the eligibility requirements for each of those fortnights. This includes paying employees by the appropriate date for each fortnight.
CLICK HERE for further information.