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.