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COVID-19 Related Articles
The updated rules and explanatory statement clarify a number of common issues that have been raised by accountants since the JobKeeper extension was announced, including:
Carrying on an entity from 1 March 2020
Eligibility for December if failed previous decline in turnover test periods
Applying the two tier payment rates
The power of the Tax Commissioner
GST reporting method
Current GST turnover
Jobkeeper payment rates – alternative tests for the 80 hour requirement
Employees not tied to hours worked
Wage condition extended to 31 October 2020
We’ve summarised the key details for employers on JobKeeper 2.0 in this update, but just remember that the proposed changes are not yet law and the details could still change.
The second tranche of the JobKeeper scheme changes the eligibility test for employers and the method and amount paid to employees.