As the fallout of the COVID-19 pandemic continues, Holmans has been actively monitoring and reporting on the Governments response regarding business support.
We’ve put together this resource centre to provide access to all the business-related government assistance measures in one place. We also provide information on how we can assist you to access and apply for tax breaks, wage subsidies and other government support, as well as commentary on the coronavirus and its economic implications.
JobKeeper – New Rules Eligibility Announced
August 10, 2020
JobKeeper 2.0 wasn’t quite 2 weeks old, and changes to eligibility have already been announced…. It will be important to keep reviewing the rules and your eligibility, as announcements are made closer to September 28.
The Government is extending the JobKeeper Payment by a further six months to March 2021.
Support will be targeted to businesses that continue to be significantly impacted by the Coronavirus. The payment rate will be reduced and a lower payment rate will be introduced for those who work fewer hours. There is no change to existing JobKeeper eligibility until 27 September.
A panel of experts (Alex Cook – Resort Brokers, Mike Phipps – Mike Phipps Finance, Tony Rossiter – Holmans Accounting & Taxation, John Mahoney – Mahoney Lawyers, Alex McCowan – Australian Valuers and Michael Philpott – MR Sales), provide COVID-19 expert insight and assistance during ARAMA’s latest information webinar.
You must ‘declare’ before you begin to receive payments, providing information as to your current and projected turnover. This is not a retest of your eligibility, but rather an indication of how your business is progressing under the JobKeeper Payment scheme.
The Federal Government has finally passed the legislation surrounding the JobKeeper payment. While most of the important questions have now been answered, some matters were still referred to the ATO to finalise. Their guidelines on remaining items will be crucial over the coming weeks.
Here are Holmans recommended steps to understanding and implementing JobKeeper:
If your business has been impacted by the COVID-19 outbreak, you may be eligible for financial assistance or other types of relief. Use this tool to discover what support is available from the Queensland Government*.