JobKeeper Support by NN Accountability | Finance

JobKeeper Support by NN Accountability

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23.01.2022 Did you know Xero has released some changes specifically to support JobKeeper payroll requirements? We can help you take full advantage of this and other Xero features to support your business.

23.01.2022 JobKeeper Support

18.01.2022 Key dates 30 March 12 April First JobKeeper fortnight 20 April onwards Employer enrols for JobKeeper via the ATO portal 30 April Deadline to enrol for ...JobKeeper for month of April 31 May - Extended deadline for the month of April (for Pty Ltd wage had to be paid the minimum of $1,500/fortnight) 4 May onwards Employer advises the ATO of the monthly eligible number of employees as well as information regarding current and projected turnover See more

08.01.2022 The JobKeeper application process is complex and I would like to help clear up some common misconceptions: 1. If you have registered interest in JobKeeper before April 20, that doesn't mean you are in automatically! There are a number of steps that need to be done before you receive any payment - you must assess eligibility and submit an application using the ATO Business Portal. You also need to ensure your payroll meets the JobKeeper requirements of eligible employees being... paid minimum $1500 per fortnight. 2. Even if not yet eligible in April, you may still become eligible in May or June if you can demonstrate that your turnover for the entire quarter (April to June) is down 30% compared to last year. 3. The following can all be eligible for JobKeeper, provided they can demonstrate 30% decrease in turnover: - Sole traders, companies, partnerships without any employees - A sole director in a company without any employees - Businesses not registered for GST 4. Every month, a report of turnover information must be provided to ATO in order to confirm eligibility. If you don’t do this, you will not receive the payment! If you're confused about the new regulation and the turnover test, we are here to help! We want to ensure all businesses receive the full benefits they are entitled to. Don't miss out due to misunderstanding! https://www.jobkeepersupport.com.au

07.01.2022 Attention Sole Traders trading less then 12 months! You can still be eligible if you meet the 30% dowturn with the alternative test. Now to claim April payment deadline has been extended from 30 April to 31 May.

05.01.2022 ATO have answered some frequently asked questions on JobKeeper. If your question is not addressed here, just reach out and we can help you!

04.01.2022 Breaking news: Today, the ATO released details about the JobKeeper alternative turnover test. The alternative tests will only apply to seven circumstances where the standard test (which compares the test period in 2020 to the same period in 2019) is not applicable: 1. Business commenced after the relevant comparison period in 2019. 2. Business acquisition or disposal that changed the entity's turnover after the relevant comparison period in 2019. 3. Business restructure that ...changed the entity's turnover after the relevant comparison period in 2019. 4. Business had substantial increase in turnover (>50% in 12 months, or >25% in 6 months, or >12.5% in 3 months) immediately before the applicable turnover test period. 5. Business affected by drought or natural disaster 6. Business has an irregular turnover that is not cyclical (such as what can occur in the building and construction sector) 7. Sole trader or small partnership with sickness, injury or leave which affects the turnover Each of these seven circumstances has its own alternative test that is detailed in the legislative instrument. We understand that this can be very complex and confusing, and we are here to help! Book a free consultation with us to assess your eligibility for the standard or alternative turnover tests, and make sure you receive all the benefits you are eligible for. https://www.jobkeepersupport.com.au/

02.01.2022 We are here to help with your JobKeeper questions and application, as well as general Xero support