With the landscape in the jobkeeper space constantly evolving, we would like to bring you the following updates:
Cashflow boost payments now received
Upon lodgment of your March 2020 BAS, a minimum of 10k will be credited to your ATO account. We have seen these come through over the last week. Those that have ATO accounts with nil balances should have the full amount deposited directly into their bank account.
If you haven’t yet requested that we complete your BAS for you, there has never been a better time to do so.
Extension of time to enrol
The ATO extended the time to enrol for the initial JobKeeper periods from 30 April 2020 until 31 May 2020.
If you enrol by 31 May, 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. This includes having paid your employees by the appropriate date for each fortnight.
If you have not already completed the form to enrol for jobkeeper, please do so now. The initial registration was only to keep you updated on the jobkeeper program. Enrolment is now essential.
What you need to do right now
To be eligible for April JobKeeper payments, employers will need to ensure that staff have been paid at least $1,500 for the first two JobKeeper fortnights (30 March – 12 April and 13 April – 26 April) by the end of April.
Should you be uncertain about how to do so, please contact us on 93164500 to discuss further.
This weeks FAQ – Eligible business participant
The ability to apply as an eligible business participant has been approved and is limited to only one business owner who needs to be substantially involved in the running of the business.
A business participant is someone who receives dividends, partnership or trust distributions.
If you are a business owner and receive wages, then your application should be made as an employee. Should you be paid through dividends, partnership or trust distributions then you should apply as an eligible business participant
Please complete and forward the attached form to us and we will include this in your application.
Some offers to consider…
Bank Jobkeeper hotline numbers
We recommend during these difficult times to contact your existing bank for faster financing. Should you wish to look at alternative banking options, please contact us and we will put you in touch.The following hotlines have now been established for those seeking funding options:
Westpac – 1300 731 073
NAB – 1800 562 533 (1800 JOBKEEPER)
CBA – 13 26 07
ANZ – 1800 571 123
Synergy are now offering a one payment of $2500 on 1 May to cover your electricity expenses. This amount will automatically appear on your synergy account. Should you not have an online account, please register for one here – https://selfserve.synergy.net.au/my-account-registration.html##step1This will apply to all those with a C1, D1, K1, L1 and R1 tariff. To check if you are under these tariffs, please check your last synergy invoice.
Further information can be found here –
or for personal accounts-
Some final notes…
From here, we will be making the application to the ATO on 4 May 2020. Thereafter will will need to report your GST turnover and eligible employees every month until September. Should you qualify once for jobkeeper, then you will not need to requalify at a later date.
Please contact me on 08 9316 4500 should you have any queries.
Kind RegardsDavid Femia
M.Acc, B.Bus, FCPA