On July 21 2020 the Australian government extended the Jobkeeper Payment scheme by 6 months. Initially, the scheme was to conclude on 27 September 2020. However, the effects related to the ongoing COVID-19 pandemic has seen a proposed extension of a new end date of 28 March 2021, giving businesses and not-for-profits the opportunity to have an additional 13 fortnightly payments.
Of course, businesses and not-for-profits will need to demonstrate their eligibility by highlighting they have experienced an ongoing decline in turnover test, using actual GST turnover in June and September 2020 quarters. For more information visit the Australian Government ATO website https://www.ato.gov.au/General/JobKeeper-Payment/ .
The continued changes and updates to these payments can be confusing for business owners. If you run a business or not-for-profit, and are seeking clarity around the JobKeeper Payment scheme, or for assistance in finding out if you are eligible, call us on (07) 4638 5300, and arrange an appointment with one of our highly skilled accounting professionals.