Employers need to get ready for JobKeeper now

The new JobKeeper Payment has passed through parliament and the Australian Taxation Office (ATO) is assisting businesses to access the scheme, helping them to retain their employees.

Deputy Commissioner James O’Halloran said the ATO is working hard to make it as easy as possible for employers to access the Government’s JobKeeper Payment, “At this stage employers should focus on determining their and their employees’ eligibility and desire to participate, and should discuss ongoing work arrangements with their employees.

“The ATO website has all the information employers need to know about how to get ready. Alternatively, contact your tax representative for assistance and advice specific to your circumstances.

“We know this payment is vital for the community, and we want every eligible employer to be ready to receive the JobKeeper Payments to help keep Australians in jobs.”

Employers need to take steps now to be eligible for the first round of JobKeeper Payments which will be paid from the first week of May 2020.

“As you would expect we will have systems in place to ensure that the payment is made to the eligible employers and will monitor any claims over the months that attract our attention,” Commissioner O’Halloran added.

The program administered by the ATO and will involve employers checking that they are eligible and then enrolling with the ATO to be paid the JobKeeper payments. Employers will receive a monthly payment for each eligible employee who was paid by the business during the previous month.

Employers
In order to receive JobKeeper payments from the first week of May, employers need to:
1.  have paid their eligible employees a minimum of $1500 per fortnight (before tax) for the period between 30 March and the end of April. The payments for the first two fortnights need to be made by the end of April to receive the JobKeeper payment in
the first week of May.
2. meet all eligibility requirements, as outlined on the ATO’s website.
3. enrol in the JobKeeper Payment program, once the enrolment process is opened on 20 April.