Job Keeper in a nut shell in plain English!

Last week the Federal Parliament rushed through its Job Keeper legislation.

Here is our take on how Job Keeper might help you as an eligible Employer

# its open to any registered business that can show a 30% reduction in turnover (big buisiness 50% )

# Sole traders that arenot registered for GST can apply using the alternative test.

# Trusts , Partnerships and Company shareholders can only nominate one individual

# It starts on 31st March and you can reinstate your employees back to this if you are eligible and they were employees before 1st March 2020.

# Employees must complete a registration form and can only nominate one employer

#Employers have become the mini centrelink of Australia

#Some employees not employed for 12 months will not eligble making it a hard conversation as an employer to these employees

# employees stood down can be reinstated and employees must pay the $1500 pf then seek reimbursement by ATO

# if registered for Job Keeper then it must be offered to all eligble employees

# Alternative test for those who can substantiate a slowdown of turnover comparing Bas periods monthly or quarterly - dont change your Bas lodgement period.

#Fortnightly checkins to advise the ATO if you are still eligible for Job Keeper

#Dont get it wrong as you will be penalised and must giove back the money

#$1500 min must be paid to the employee SGC extra on above that

#ATO cant hold the payments for other ATO debts

#Be stp ready to manage the reporting

#Employees must have worked for you for 12 months and they cant get Job Keeper twice. Must let you know if they seek a job else where must stop getting Job Keeper.