October 31 deadline for ‘new’ Jobkeeper enrolments

First time JobKeeper entrants have been urged to enrol and submit their “Check decline in turnover” online form to the ATO before this Saturday’s deadline.

Businesses have until 31 October to supply their decline in turnover and meet their wage conditions to qualify for the JobKeeper extension. The ATO has allowed employers until 31 October to meet the wage condition for all employees.

3.6 million employees were supported by JobKeeper at the end of September 2020, the Treasury believes the figure will fall to 2.24 million employees by the December quarter, and drop further to 1.75 million employees for the March 2021 quarter.

Claiming JobKeeper before 28 September?

Entities who were claiming JobKeeper before 28 September have until 14 November to check their business has satisfied the actual decline in turnover and complete their monthly business declaration.

Decline in turnover test, ATO’s Key Focus

The ATO has announced its key focus for the JobKeeper extension, with attention to be given to the actual decline in turnover test.

Businesses have reason to be cautious with the latest version of Jobkeeper, compared to Jobkeeper 1.0, which relied on projected turnover figures.

JobKeeper 2.0 is instead based on the actual decline in turnover on the same basis as your BAS reporting method (with no discretion). Accordingly, it is important to report correct figures to the ATO during this phase.

If you have any doubts or require any assistance, please contact Holmans as soon as practically possible.

Holmans Noosa: (07) 5430 7600 or email info@holmans.com.au
Holmans Maroochydore: (07) 5451 6888 or email infohm@holmans.com.au