JobKeeper

Amount of JobKeeper

The amount of the JobKeeper payment is $1,500 a fortnight for each eligible employee or business participant.  Employers must pay each eligible employee at least $1,500 per fortnight before tax.

Claiming JobKeeper

You have to enrol with the ATO to participate in the JobKeeper scheme.  You can do this online.  You had to enrol by 31 May 2020 if claiming for payments in April and May 2020.

If you are an employer, the process differs depending on whether you report through Single Touch Payroll.

You have to identify each person for whom you will claim the JobKeeper payment.  You only need to identify eligible employees or the eligible participant once.

If you are an employer, you have to notify all eligible employees they are receiving JobKeeper.

Monthly declaration

You will have to provide a monthly declaration to the ATO – this can be done from the 1^st to 14^th day of each month, to receive reimbursements for the payments you have made to your employees on the previous months.

Tax consequences

JobKeeper payments form part of the business entity’s assessable income.  Of course, an employer can claim a deduction for wages paid to employees even if subsidised by JobKeeper.