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11 May
2020
ATO NEWS AND UPDATES
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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 OnlineHow to setup and manage Jobkeeper 

 




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