JobKeeper Frequently Asked Questions

There have been many Jobkeeper frequently asked questions from both clients and on social media asked around the Covid_19 payment package. I have highlighted some of the more frequent questions and their answers in this blog article below. 

How do you calculate the GST turnover for Jobkeeper – Cash or Accrual? 

You calculate the GST turnover the way you are already registered to do so. Calculate the GST turnover as you are registered to do so for the Business Activity Statement. 

See ATO community 

Do I need to be registered for GST to be eligible for JobKeeper?

No – Refer to Employers

MyGov ID and Jobkeeper

You need a myGov ID to apply for JobKeeper – MyGov & RAM

Can Sole Traders without employees qualify for Jobkeeper?

Yes, register via your business portal, myGov account or ask your tax professional to register on your behalf. 

Where do I get the form for the employee nomination form?

The Australian Taxation Office has a template you can use – Employee Nomination Form

What if I qualify for one month, but change my business model and increase my profits? Will I still qualify for JobKeeper?

One period of comparison is sufficient to qualify for JobKeeper. If you qualified in March, but increase your turnover through May for example, you still qualify for Jobkeeper. 

Still looking for Answers?

You can find more Frequently Asked Questions on this official Australian Taxation Office website

https://www.ato.gov.au/General/JobKeeper-Payment/In-detail/Employers–frequently-asked-JobKeeper-questions/

How to set up in your software?

Quickbooks Online – How to setup and manage Jobkeeper 

Amanda Hoffmann

Amanda Hoffmann is a registered Tax Practitioner / BAS Agent No.18613005, Associate of Finance, Xero, Myob & Quickbooks Proadvisor / Trainer and a Consultant for the Australian Taxation Office.

She says she is more than just a bookkeeper with experience in real estate investing, social media, podcasting, blogging and recently recording monthly youtube episodes

Amanda loves to teach smart, easy online cloud solutions and fix messy bookkeeping. Follow her on social media and say “Hi”