JobKeeper Extended and Business Grants

JobKeeper Extension for Businesses

Steps for businesses to claim the extended JobKeeper from 28 September:

1. Be in business before 1 March 2020.
2. Assess if a downturn of 30% has occurred for the September 2020 quarter compared to the September 2019 quarter using the lodged BASs if registered for GST.
3. Review the hours worked for each employee to determine their rate;
   •  $1,200 if they worked more than 80 hours in the 28 days before 1 March or 1 July.
   •  $750 if they worked less than 80 hours in the 28 days before 1 March or 1 July.
   •  Include any new employees that were employed on 1 July and provide them with a JobKeeper Nomination Form.
   •  Business participants should look at their hours worked prior to 1 March, only.
4. Enrol for the extended JobKeeper from 28 September.
5. Ensure the business meets the wage condition by paying each employee at least their respective fortnightly rate ($1,200 or $750 gross) from 28 September.

For those clients completing the enrolment themselves please ensure you adhere to all ATO requirements as penalties apply for incorrect information. Further information can be found here:

www.ato.gov.au/Business/Business-bulletins-newsroom/Employer-information/JobKeeper-Payment-extended-to-28-March-2021

www.ato.gov.au/uploadedFiles/Content/CR/downloads/Extension-of-the-JobKeeper-Payment-factsheet.pdf

Business Grants

The Victorian government has announced $3 billion of assistance to businesses.

• Business Support Fund Grants range from $10,000 – $20,000 available for eligible businesses. Applications are open from 18 September.
• Payroll Tax Payment to be deferred for the full 20/21 financial year.
• Sole Trader grants of $3,000 for those in the following industries; retail, accommodation, food, arts, media, hairdressing, gyms, events and education AND operate from commercial premises as a tenant.

The following link to the Business Victoria site shows a number of grants, with the majority of government funds directed at the hospitality/tourism industry.

www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-resilience-package

The C & H Team will be in contact with business clients in the coming weeks to assess eligibility for the new JobKeeper scheme and any available Business Grants. If you do not hear from us, please contact the office.