Australian Government Jobkeeper Payment
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Webinar 16 April 2020
The JobKeeper subsidy represents the largest single stimulus initiative ever offered to Australian business. A payment of $1,500 per fortnight for each eligible employee for a period of up to 6 months is a massive underwrite of the Australian economy and already hundreds of thousands of businesses have registered their interest to participate in the scheme. With $130 billion on offer, there are plenty of risks if you get it wrong. And, like any package of this type, the devil is in the detail. (Note - at the 33min point, superannuation is payable on all jobkeeper payments where the employee works, it is not payable on the 'top up' if the employee doesn't work, the slides are correct but I mixed the two when presenting....)
Here's what we covered during our webinar on Thursday April 16th:
✅ Eligibility for employers, employees, sole traders & other structures
✅ Calculating turnover, managing registration, and payment in practice
✅ Risk managing your business to avoid getting it wrong
✅ Live Q&A of more than 60 questions from webinar attendees
JobKeeper Checklists - Downloadable PDFs
Please download all of the checklists provided to assist with your JobKeeper application to help ensure you submit all of the correct
information.
JobKeeper
Employer Eligibility
JobKeeper
Workpaper Employee Eligibility
ATO
JobKeeper Employee Nomination Notice
Economic
Stimulus Plans - Jobkeeper Slides
Letter
Confirmation to Employee of JobKeeper Nomination
On 31 March 2020, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount. Who needs to lodge a FBT return? Find out here.
With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to normal. With Australia's desire to ‘get on with things,' sentiment reached its highest level since November 2013 and Christmas spending is expected to be consistent with previous years.
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.
