The ATO has officially opened JobKeeper enrolment today, eligible businesses with eligible employees are encouraged to sign up.

The amount of JobKeeper payment is $1,500 before tax per fortnight, per eligible employee.

Who is eligible?

To be eligible for JobKeeper payments, your business must:

• have a reduction in turnover of 30% or more compared to a year ago (50% reduction for businesses greater than $1b in turnover)
• not be subject to the Major Bank Levy
• have been in employment relationships with the eligible employees as at 1 March 2020
• confirm that each eligible employee is currently engaged (i.e. not stood down), and
• meet turnover tests if you are a not-for-profit or self-employed individual.

How do I identify the eligible employees?

The entity has eligible employees (including owners who receive a wage) who satisfy all of the following requirements:

• are currently employed (including those stood down or re-hired)
• are a permanent employee, or if a long-term casual employee, not a permanent employee of any other employer
• are not in receipt of a Jobkeeper Payment from another employer
• are not in receipt of a Parental leave or Dad and partner pay from the government
• are not in receipt of a payment under Australian worker compensation law for his/her total incapacity for work
• have been paid at least $1,500 before tax each fortnight starting 30 March 2020 and every subsequent fortnight until 27 September 2020 (until the employees stop being eligible)

1 March 2020 Test 

• were employed at 1 March 2020
• were an Australian citizen, the holder of permanent visa or Subclass 444 visa at 1 March 2020
• were a resident for Australian tax purposes on 1 March 2022
• were full-time, part-time, or long-term casuals (a casual employed over 12 months as at 1 March 2020)
• were at least 16 years of age at 1 March 2020

I am self-employed, am I eligible?

Yes, for self-employed businesses, if you are a sole trader, a partner in the partnership, an adult beneficiary of the trust or a shareholder or director in the company at 1 March 2020, will need to consider and nominate one individual (in the entity) who meets the eligibility requirements as an eligible business participant to receive the payment.

The nominated individual must provide his/her TFN and provide a declaration to recent business activity.

Do I need to provide other information?

Yes, plenty. Apart from your bank details and contact information, the ATO needs eligible businesses to prove their eligibility for the JobKeeper program, which includes business activity statements and other documents.

In addition, once you are approved to participate in the JobKeeper program, you must make a monthly declaration about your current and projected GST turnover, as well as reconfirm eligible employee details.

If you have any questions regarding this announcement, please do not hesitate to contact us on (08)7120 2384 support@tagaus.com.au, or you just simply click below to register so we can contact you.