|The JobKeeper program has now been in operation for almost two months and whilst there has been a lot of media around the program and how long it will remain in place, the Government has stated that it will not be extended past the current end date of 27 September 2020. There will be a review undertaken at the end of June and we expect that we may see some changes once the review is completed.
Month-end process – reminder
If you are already registered for JobKeeper, you will need to lodge your monthly business declaration before you receive your JobKeeper payment for May. The declaration must include:
- Reconfirmation of your eligible employees (making sure you remove any employees who have left your business)
- Reconfirm your business details
- Provide the actual GST turnover for May
- Provide the projected GST turnover for June
The ATO has said you will be able to do this via the Business Portal from 1 June and that it must be completed by 14 June.
If we have agreed that we will lodge your monthly business declaration via the Tax Agent Portal, please provide us with the relevant details above so we can lodge it as soon as possible for you.
Other things to remember
- Enrolment for JobKeeper for April and May closes on 31 May 2020
- Please make sure you are paying your eligible employees the minimum of $1,500 per fortnight, you can’t “make this up” at the end of the month
- If you are not yet in the JobKeeper program, continue to monitor any downturns in turnover. The program as it currently stands is available until the end of September
Please contact your Holman Hodge adviser if you have any questions in relation to the above.