Jobkeeper Payments Update 28 April 2020
The latest information from the Australian Taxation Office (ATO) advises that the Commissioner of Taxation has extended the time to enrol for the initial JobKeeper periods until 31 May 2020 (previously 30 April 2020).
What this means is that if you enrol by 31 May 2020 you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. Of most importance, this includes having paid your employees by the appropriate date for each fortnight.
Having said this. for the first two fortnights (30 March – 12 April, 13 April – 26 April), the ATO advises they will accept the minimum $1,500 payment for each fortnight has been paid by you even if it has been paid late, provided it is paid by 8 May 2020. Please note, if you do not pay your staff by this date, you will not be able to claim JobKeeper for the first two fortnights.
One of the main concerns for employers wanting to enrol for the JobKeeper Scheme is that they have to make the $1,500 payments to employees before they are eligible to receive the JobKeeper Payment. For many employers, this is simply impossible.
Yesterday (27 April 2020), the Federal Treasurer (Josh Frydenberg) spoke with the ‘Big 4’ banks and they have agreed to establish dedicated Hotlines for employers to call in relation to accessing bridging finance.
Those Hotline numbers are:
- Westpac – 1300 731 073
- NAB – 1800 562 533 (1800 JOBKEEPER)
- CBA – 13 26 07
- ANZ – 1800 571 123
Please Note: The comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.
Please contact Balanix Solutions on 07 3264 4783 for the appropriate professional advice for your individual circumstances.