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By Optometry Australia

With JobKeeper changes coming into effect from this Monday, 28 September, we want to encourage all employers who continue to access this wage subsidy program to seek financial and tax advice to ensure that they comply with ongoing tax, payroll and employment conditions.

As JobKeeper 2.0 eligibility and reporting obligations are very complex, we believe that you will be well served to talk to an accountant or taxation specialist about the new business eligibility criteria, turnover tests, payment rates and payment tiers.

For Optometry Australia members: if you do not have an accountant, we encourage you to contact RSM Accountants who can offer tax and accountancy advice. Businesses can continue to telephone Optometry Finance Australia on 1300 678 346 for advice and FairWork Australia can also be contacted for a free consultation on JobKeeper.

For information regarding JobKeeper 2.0, there is a wide range of resources available, including:

  • The Government’s fact sheet which explains the scheme in detail
  • This comprehensive article from My Business which offers good insights into JobKeeper 2.0 as well as an explanation around the decline in turnover test, plus references links for further reading
  • This article from Smart Company  specifically aimed at sole traders and SMEs on this complex subject
  • This overview from Tax Banter which uses more simplified language to explain the program

Additional information on JobKeeper changes can be found here.

 

ATO key JobKeeper dates:

Now: Employers to notify employees about the JobKeeper payment they can expect to receive.

28 September 2020: Employers to start paying eligible employees tier 1 and tier 2 JobKeeper rates based on their hours worked.

From 28 September: If using Single Touch Payroll to notify the ATO of eligible employees, employers must provide each eligible employee’s tier as part of their normal payday reporting. Those enrolling for the JobKeeper payment for the first time can do so from 28 September.

Between 1– 4 October 2020: Employers to complete their October JobKeeper monthly business declarations to receive reimbursement for the September fortnights.

Between 1–31 October 2020: Employers to prepare and submit their business’s actual decline in turnover to the ATO.

Before 31 October 2020: Employers to ensure they meet the wage condition for all eligible employees included in the JobKeeper scheme for the JobKeeper fortnights starting 28 September 2020 and 12 October 2020.

From 1 November 2020: Employers to complete their monthly business declaration and confirm what payment tier they are claiming for each employee.

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