JobKeeper Extension 1 (starts 28th September 2020)

  1. Eligibility includes testing the decline in "Turnover" based on comparing September 2020 Quarter against prior year September 2019 Quarter.
  2. Turnover Testing can be completed once September 2020 month final Sales are invoiced/ receipted in your bookkeeping system.
  3. Turnover test decline %'s are the same as for JobKeeper 1.0
  4. Definition of "Turnover" has changed from it's definition in JobKeeper 1.0
  5. The turnover "Accounting Basis" has changed from it's definition in JobKeeper 1.0
  6. The Basic Test the first to be performed.
  7. There are also 7 Alternative Tests (although as at the date of this newsletter they are not yet legislated)
  8. The Subsidy rate drops from $1,500 per fortnight to either Tier 1 ($1,200 pf) OR Tier 2 ($750 pf)
  9. Determination of Tier 1 or Tier 2 is required for Eligible Employees and Business Participants.
  10. Alternative period tests do exits for such Tier determinations.
  11. The nomination of Tier must be submitted to the ATO via Single Touch Payroll (STP) functions in your payroll software.
  12. Any Top-Up Payments for Eligible Employees for the first 2 fortnights from 28 September 2020 (FN01 and FN02) under JobKeeper Extension 1 will be payable by 31st October 2020**
  13. JobKeeper Extension 1 period is scheduled to end on 3rd January 2021 (followed by another 3 month JobKeeper Extension 2 scheme with it's own Rules)

** This due date is deferred to allow businesses time to:

  • test eligibility;
  • test turnover after 30 September 2020 final Sales calculated;
  • determine Eligible Employees;
  • determine Tier 1 or Tier 2 for Eligible Employees and Business Participant
  • prepare and lodge enrolment with ATO
  • STP filing to ATO
  • calculation and payment via payroll of any Top-Ups for Eligible Employee's.

Important Action to Prepare:

We strongly recommend that all Businesses ensure that all Sales/Income to 30 September 2020 is fully reconciled in your Xero/MYOB/Other software very promptly in that first week of October.  This will allow us time to undertake the above JobKeeper Extension 1 testing tasks before 31 October 2020 for each business that requests our assistance.

Please note for all businesses that we prepare and lodge your monthly JobKeeper Claims - you will continue to receive our regular monthly ASK Questionnaire to assist with the eligibility and transition to JobKeeper Extension 1.

Those businesses who have been dealing with JobKeeper independently, and would now like our assistance, please email Tahlia at tahlia@marktrovato.com.au to be added on to our regular ASK Questionnaire for JobKeeper Extension 1.

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