In this newsletter we focus on the new ATO guidelines for the Federal Governments JobKeeper Payment scheme, the new guidelines for the NSW Small Business Grant for $10,000 and our Director’s consultation fee free arrangement for Coronavirus income disrupted clients.
-
JobKeeper Payment Guidelines
-
JobKeeper Payment actions for Employers
-
JobKeeper Payment for Sole Traders
-
JobKeeper Payment Schedule
-
Other Specific ATO - JKP guidelines
-
Practical scenarios of the JobKeeper Payment Scheme
-
Small Business $10,000 Grant
-
Bongiorno - Consulting Fees Coronavirus Relief Arrangement
We discuss these in detail below.
1. JobKeeper Payment Guidelines and important action item for JKP entitlement
The ATO issued guidelines regarding the JobKeeper Payment (JKP) on 14 April 2020 for employers and on 16 April 2020 for sole traders and other entities. These guidelines support the JobKeeper Payment legislation passed on 8 April 2020 and Treasurer's Rules which were registered on 9 April 2020.
The concept is reasonably straight forward.
If the GST turnover of a business has decreased by more than 30% due to the effects of the governments measures to manage the Coronavirus, it can apply for a JKP of $1,500 per fortnight per eligible employee. The testing period commences on 30 March 2020 and ceases on 27 September 2020. The JKP is paid to the eligible employer or self- employed monthly in arrears. In limited circumstances the JKP may also be available to an eligible self-employed entity (referred to as an 'eligible business participant' further information below).
For the fortnights starting 30 March 2020 and 13 April 2020 the ATO will pay an eligible employer a JKP of $3,000 per fortnight per eligible employee and a JKP of $3,000 per fortnight to an eligible self employed person, in the first week of May 2020.
The administration involved in the determination of the turnover test, the identification of eligible employees, the enrolment for JKP and the application for actual JKP amounts and continued reporting to the ATO are more involved than the concept.
However, with a $130 billion dollar payment scheme there has to be accountability.
Eligible employers and eligible self - employed can access the JKP scheme by enrolling on the ATO website from 20 April 2020.
Bongiorno can offer two services;
We will be providing a whole JKP process service for our eligible employer and eligible self employed clients, unless you contact us to advise you will be attending to the JKP process yourself.
The most important process in applying for JobKeeper Payment is for all employers to immediately issue the JobKeeper Employee Nomination Notice to your employee. Each employee must complete this form and agree to nominate you as their employer who will be claiming the JKP on their behalf.
It is essential you email us a copy of each JobKeeper Employee Nomination Notice as soon as possible.
Please find attached the JobKeeper Employee Nomination Notice
https://www.ato.gov.au/assets/0/104/300/387/d1aab7f2-fbe8-44b8-9ec1-4885ded1088e.pdf
This newsletter will outline some of the specific criteria in the ATO guidelines.
| 
