Many businesses may be concerned about retaining employees due to the economic impacts of COVID-19 (coronavirus).
To help employers, the government has introduced the JobKeeper payment delivered through the ATO.
Here are the steps you need to take to get ready:
- Check if you and your nominated employees meet the eligibility requirements.
- Register your interest for JobKeeper payments. Do this now especially if you are unsure if your business is going to need it.
- Notify Callaghans when you have registered so we can let you know when new information is available.
- Notify eligible employees that you (their employer) intend to participate in the JobKeeper scheme.
- Confirm with eligible employees that they agree to you being the primary employer to receive JobKeeper Payments. Again, do this as soon as possible.
- Send the nominated employees the JobKeeper Employee Nomination Noticeto complete and return to you.
- Keep the Employee Nomination Form on file.
- Pay the minimum $1,500 to each eligible employee per JobKeeper fortnight. The first fortnight starts on 30 March and ends on 12 April. Alternatively, you can make one combined payment of $3,000 for the first two fortnights paid by the end of April 2020.
- Enrol for JobKeeper from 20 April using the Business Portal and authenticate with myGovID.
Sole traders, partnerships and trusts can be eligible for the JobKeeper Payment if their business has experienced a downturn. You can find out more about eligibility through the ATO JobKeeper Payment scheme page.
More information can be found on the ATO JobKeeper page.
Contact us on (02) 6256 6000 or email [email protected] if you would like to talk to one of our Accountants regarding the above.