JobKeeper Extension 2 is nearly here…
A friendly reminder that the second part of JobKeeper 2.0 starts on 4 January, so now is the time to start preparing!
If you are already enrolled in JobKeeper, you don’t need to re-enrol, but you DO need to notify eligible employees of the upcoming changes and ensure that they are still in the correct tier (see our handy JobKeeper2Checklist), and then ensure that from 4 January they are paid at least:
- $1,000 per fortnight for tier 1 employees
- $650 per fortnight for tier 2 employees.
If your business is not yet registered for JobKeeper but will now be eligible, don’t hold back! You can still be eligible for extension 2 even if you were not eligible for JobKeeper extension 1, and it’s always worth asking.
You will need to show that your actual GST turnover has declined in the December 2020 quarter relative to a comparable period (generally the corresponding quarter in 2019). Your BAS statements must be up to date, as un-lodged statements may hold up your application. Remember you don’t use your projected GST turnover, but your current GST turnover, using the accounting basis you used for GST reporting purposes (ie cash or non-cash). Ask us for help if you’re not sure!
Once the second extension period starts on 4 January 2021, you’ll then need to complete the monthly business declarations in January, February and March.
As usual, please don’t hesitate to contact your friendly Halletts accountant for help!