JobKeeper Payments – Some Questions and Answers
Here at Balanix Solutions we have tried to answer some of the most frequently asked questions of us in relation to the JobKeeper Payments.
Do I have to have paid eligible employees the $1,500 per fortnight before claiming the payment?
Answer: Yes, the payment is a reimbursement to the employer.
What happens if an eligible employee leaves your employment?
Answer: Must notify the ATO the employee is no longer eligible.
Under the Jobkeeper Scheme can you pay a nominated employee less than the $1,500?
Answer: No, you must pay the $1,500 to all eligible employees.
Is the $1,500 taxable in the hands of the employee?
Answer: Yes, the employer must deduct tax (PAYG) from the payment.
If I am nominated as an individual to receive a payment as an eligible business participant is the partnership, trust or company required to pay me the $1,500?
Answer: Unlike the wording relating to employees there is no requirement to pass on the $1,500 to the nominated person. So, in the case of a partnership with three partners they could take $500 each.
What if I am a new business and cannot compare with a compatible time last year e.g. March or April?
Answer: The ATO will be making a legislative instrument to deal with new businesses in operation less than a year, and some other circumstances such as businesses who had a temporary fall in turnover in 2019 due to drought. This will be available soon.
Do I have to satisfy the turnover test every month going forward?
Answer: Each month, you must reconfirm the eligibility of your business and your reported eligible employees to the ATO.
You must also provide information as to your current and projected GST turnover. This is not a retest of your eligibility, but rather an indication of how your business is progressing under the JobKeeper Payment scheme. (This is directly from ATO website)
I have a rental property and my rent drops by more than 30%, can I claim the JobKeeper payment?
Answer: In short it is very unlikely the ATO would consider you to be running a business therefore you would not meet the criteria to claim Jobkeeper.
If you wish to discuss your specific needs please contact Balanix Solutions on 07 3264 4783