LAST UPDATED: May 5, 2020
* This resource is provided as a guide to assist you in locating helpful information. For accurate advice relating to your personal circumstances, please consult your business or home financial experts.
Like so many, our industry has been significantly affected by restrictions implemented as a result of the global COVID-19 outbreak.
The Federal Government is offering assistance by way of the JobKeeper payment to help both employees and the self-employed stay financially afloat amidst the pandemic.
Get advice from your registered tax or BAS agent if you need help. They can enrol, identify and declare for JobKeeper on your behalf.– ATO website
Economic Response to COVID-19: Support for You
The Treasury has published several fact sheets for businesses after promising billions of dollars in economic response measures.
We encourage you to view their dedicated JobKeeper page which details (and links to) the most relevant economic information and updates in response to COVID-19.
The JobKeeper legislation was passed April 8. Click to read the details:
The most recent JobKeeper FAQ fact sheet has been published (as at 2 May) and is the best place to start for straight-forward and succinct information to help guide you and your circumstance.
JobKeeper Alert – APPLY NOW
The JobKeeper submission portal is now open (as of 19 April.) The government initially advised applying by 30 April but extended the deadline to 31 May.
Unsure if you satisfy the 30 percent turnover downturn requirement for small business and sole traders? Click through to check out the available tests and see where you fit in:
How to Calculate Turnover
For JobKeeper purposes, turnover is calculated by your sales (exclusive of GST.)
When submitting your application, you can choose to compare actual (or likely) sales from March 2019 against March 2020, April 2019 against April 2020, or the April-June quarter 2019 against the same quarter in 2020.
Read additional information direct from the ATO HERE.
Latest Detail from the ATO
Scroll to the areas most relevant to you and click through to read the latest government-published information:
The Steps Employers Need to Take
Seven steps the ATO suggests employees need to take in order to get ready for JobKeeper:
Sole Traders and Others
Want to find out if you’re eligible for JobKeeper either as an individual OR other business entity (aside from employers detailed earlier in this post)? CLICK HERE.
From the ATO’s sole-trader and other entities guide (click to access information and active links):
JobKeeper Example Case Studies
Click through to read some examples of eligible JobKeeper recipients:
The JobSeeker payment is for those who are unemployed or not in full-time work. It’s $400 less than the JobKeeper payment: $1100 fortnightly (as opposed to $1500) and has income and assets limits.
You can’t receive both JobSeeker and JobKeeper. If in need, choose which of the two best suits your circumstances before applying.
JobSeeker payments are managed by Centrelink where JobKeeper payments are managed by the ATO (via BAS reporting.)
|Formerly named NEWSTART||New – announced late March|
|Done via Centrelink||Done via the ATO|
|Partner income matter? YES||Partner income matter? NO|
|Sole traders CAN apply||Sole traders CAN apply|
|Max. payment: $1100||Max. payment: $1500|