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Government Support Closing Dates

There are important dates this week for the JobKeeper support payments and the NSW Government COVID-19 Small Business Support Grant.

JobKeeper Payments for the month of April – closing 31 May 2020

You have until 31 May 2020 to enroll and make a payment claim for JobKeeper Payments (JKP) for the month of April 2020 as an:

  • Eligible business participant and/or

  • Eligible employer

If your GST turnover has decreased by more than 30% in a test period, you may qualify for the JobKeeper Payments.

The JKP test periods are:

  • Actual March 2019 compared to actual March 2020

  • Actual April 2019 compared to actual April 2020

  • Actual June 2019 (April 2019 – June 2019) quarter to estimated June 2020 (April 2020 – June 2020) quarter.

You must have a reasonable basis for using the estimated April – June period as your JobKeeper GST Turnover test period.

If you think you may qualify for the JobKeeper Payments for April 2020 as an eligible business participant or an eligible employer, please contact your adviser to lodge a JobKeeper payment claim before 31 May 2020.

JobKeeper Payments ongoing reporting requirements

For businesses that have already enrolled and applied for the JobKeeper payments for the month of April 2020, you will continue to have reporting obligations to the ATO on a monthly basis.

You will need to declare your monthly earnings by the 14th of the following month to continue to receive the JobKeeper payments.  You will also need to reconfirm the employees in your employment and ensure you continue to pay $3,000 per month per eligible employee.

May 2020 earnings will need to be reported to the ATO by 14 June 2020.  If you don’t use our Banklink system, please forward your turnover for May as soon as practical after the month ends.

NSW Small Business COVID-19 Support Grant – closing 1 June 2020

Service NSW will administer the payment of a NSW Government Grant of $10,000 to small businesses highly impacted by the NSW Public Health Order issued on 31 March 2020.

To qualify a business must meet the following conditions

  1. Experienced at least 75% decline in turnover compared to the same two-week period in 2019

  2. Employ 1-19 full-time workers as at 1 March 2020, with gross wages less than $900,000

  3. Have an annual turnover of more than $75,000

If you think you qualify, please contact your adviser to prepare an accountant letter to support your application before 1 June 2020.

Regards

Bongiorno (NSW) Group