How to access the JobKeeper extension

The new JobKeeper extension scheme applies from today, 28 September 2020.

These are the seven key actions Australian businesses must take to continue to access it.

  1. From 1 October 2020 and by 31 October 2020, advise the Australian Tax Office (ATO) of continuing eligibility online. If your business is no longer eligible to participate in the JobKeeper scheme after 28 September 2020, the ATO notes that you should notify your eligible employees. Given this is an extension of the original JobKeeper scheme, existing participants will not be required to re-enrol.
  2. By 31 October 2020, assess whether your business meets the new ‘actual’ turnover reduction test for the September 2020 quarter
  3. By 31 October 2020, test whether your eligible employees (or eligible business participants) are eligible for the higher or lower rate, by applying the 80 hour work test
  4. By 14 November 2020, complete the relevant declarations on the October monthly business declaration. This must include whether each employee is eligible for the higher or lower rate
  5. On or before 31 October 2020, make ‘top-up’ payments to employees based on the new rates for the October 2020 fortnights and continue to make ongoing payments
  6. Notify your employees of their JobKeeper rate within seven days of notifying the ATO, and
  7. Update your payroll records to reflect the extended scheme.

 

For more detailed guidance on how to access the JobKeeper extension, download Bentleys’ JobKeeper extension access guide from the Resources section of our COVID-19 hub, or speak with your local Bentleys advisor for assistance. We will continue to update our JobKeeper extension access guide and the COVID-19 resource hub with important developments, so please return soon.
We, at Bentleys, are doing everything we can to help businesses come out of this challenging time in good shape.

 

Disclaimer: This information is general in nature and should not be relied on as advice. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs and seek professional advice before making any decisions based on this information.

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COVID-19: A summary of Australia's tax measures

The governments of Australian states and territories have also released independent stimulus packages. For an overview of all Australian measures, click here.

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