The ATO has announced that the JobKeeper deadlines for the second extension period have now been extended ahead of the Christmas season!
To be reimbursed for payments between 23 November 2020 and 3 January 2021, employers now have until the 28 January 2021 to complete their December business monthly declaration instead of the usual 14th of each month.
The Tax Office has also taken into the account the New Year weekend and have allowed employers to meet the wage condition for payments between 21 December and 3 January 2021 by 4 January 2021.
The second extension period for JobKeeper will kick in from the 4 January 2021, reducing payment rates to $1,000 per fortnight for those on the tier 1 rate and $650 per fortnight for those on tier 2.
Entities will be required to demonstrate that their actual GST turnover has declined by the requisite shortfall for the December 2020 quarter, with the ATO to make the new decline in turnover form available on its systems from 4 January.
New employers or existing employers who are enrolling for the first time will be required to submit the decline in turnover form by 31 January.
Employers will also be given until 31 January 2021 to meet the wage condition for fortnights starting on 4 January and 18 January 2021.
If you require any further assistance or advice surrounding JobKeeper, please don’t hesitate to get in touch with our team by phoning 4638 5300 or contacting us here.