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Employers have until 31 October to enrol for JobKeeper 2.1 and submit their ‘Check decline in turnover’ form. 31 October is also the ATO’s deadline for meeting wage commitments to employees on JobKeeper for the fortnight 28 September to 12 October.

And that’s not all! 14 November is the deadline to lodge a business’s monthly declaration to remain eligible for JobKeeper payments. The monthly declaration applies to September through to 31 October. Eligible businesses must confirm a 30% or more reduction in turnover for the period. The declaration must also confirm the payment tier being claimed for each employee.

The new 2-tiered payment rates will be determined by the employer, so it is important to fully understand the new system.

Tier 1 will pertain to employees working 80 hours or more in the four weeks of pay periods before 1 March 2020 or 1 July 2020.

Tier 2 applies to all other eligible employees and business participants. Click here to find out who is eligible.

The following can be used as a basic guide for those making the JobKeeper declaration:

  1. Identify the turnover period.
  2. Evaluate the basis test or comparison (some businesses will use the G1 label from activity statements where appropriate and suitable)
  3. Work out the GST turnover for the periods with shortfall percentages applying. Determine if it has declined by 30% or more.

Note: the turnover test must be based on actual sales in the relevant quarter not projected sales. This is a change from the previous JobKeeper scheme.

Want to know more?

With JobKeeper 2.0 now in effect, and new Government stimulus measures constantly being announced, our team are working hard to update our tools and information for you.

Below are some articles that also relate to this topic, and may help you make well-informed financial decisions:

  1. JobKeeper 2.0: Changes from September
  2. $800m Federal Budget 2020 Plan to Push Business Digital

This article is published by R J Sanderson and Associates Pty Ltd ABN 71 060 299 783. This article contains general information only and is not intended to represent specific personal advice (Accounting, taxation, financial or credit). No individual personal circumstances have been taken into consideration for the preparation of this material. It is recommended that you obtain your own personal professional advice before making any financial or business decision.