• Amanda Amey

Jobkeeper 2.0

JobKeeper Stage 2 begins from 28 September 2020.


The basics are similar to Jobkeeper 1, but there are changes. .

Testing will be based off the Quarter ending 30 September 2020.

The main changes between the first and second stage are:

  • The decline in turnover test of 30% or more will be the based off the September Quarter 2020 compared to the same period in 2019. You can no longer choose your testing period.The Alternative tests are similar to job keeper stage 1, and still apply to Jobkeeper 2.0

  • GST Turnover must be calculated using the same Accounting Method of Cash or Accruals as reported on your BAS (Businesses not GST registered can choose Cash or Accruals).

  • The Alternative tests are similar to job keeper stage 1, and still apply to Jobkeeper 2.0

  • There are now two tiers for payments:

- Tier 1 is for employees who worked an average of 20 hours or more a week for the four PAY weeks prior to either 1 March 2020 or 1 July 2020

- Tier 2 is for employees who worked an average of 20 hours or less a week for four PAY weeks prior to either 1 March 2020 or 1 July 2020.

  • Employers can either chose the March or July testing period, depending on which is more favourable for their employee.

  • Nominated Business Participants have to notify the ATO whether they are Tier 1 or 2 depending on whether they were actively engaged in their business for more or less than 80 hours in total for the month of February.

If you need help in understanding if you qualify for jobkeeper, give us a call.


M 0409715577

 

Knowledge is the Key, Let us help you

 

CONTACT DETAILS

PO Box 14, Nobby Beach, Qld 4218

Phone : 0409 715577

E. accounts.more@bigpond.com