What Employers Need To Know About Jobkeeper Extension Update?

October 7, 2020 Tax Return Perth

The government of Australia has extended its JobKeeper scheme until recently. Employers can now lodge their Personal Income Tax Return by optimizing this extension. The ScoMo government has made this announcement on 21^st July, 2020. The JobKeeper scheme will be extended till 28^th March, 2021. A number of changes have been in the payment scales and eligibility conditions. To get more information, contact a Tax Accountant Perth immediately. Before that give a nice reading to the following write-up.

The Chief Objective!

The extension in the JobKeeper payment aims at those non-for-profits and businesses which have been affected by Coronavirus. The eligibility will be assessed according to the desired turnover within the specified time-frames. The JobKeeper payment will then be paid over two separate rates to the eligible employer. This particular rule has been enforced from 28^th September, 2020. Additional changes were announced on 7^th August, 2020. The aim was to adjust the reference date in terms of eligibility.

The Outcome!

As a result of this announcement, companies found it easy to apply and procure the JobKeeper payments. They became eligible for doing so from 28^th September, 2020. To get further information about the status of the existing JobKeeper payment till 27^th September, 2020, please visit ATO’s official site.

The JobKeeper Alterations in A Nutshell

You already know that the ScoMo government has proclaimed some significant changes to its JobKeeper scheme on 21^st July, 2020. These changes are expected to come into effect not before 28^th September. So, what are those changes all about? Here is a short description concerning each of these changes.

Changing rates have been announced for workers who work for more than 20 hours every fortnight. Payments with reasonable reductions have been announced as well concerning the JobKeeper scheme.
Eligible employees can now access some tiered payments as well.
Turnover tests have been announced as well pertaining to evaluate the eligibility and
Most importantly, an extension till 28^th March has been announced concerning the JobKeeper payment. Before this the scheme was supposed to end on 27^th September.

Australia’s economic condition is gradually recovering and it is in its initial stages. This is because the Covid-19 plight has affected a lot of people and businesses. This will supposedly result in a striking low wage growth of 1.25% during 2020-2021. Hopefully, this extension in the JobKeeper will significantly curb this crisis, the ScoMo government has stated.

A Look at The Extended Rates!

Following are the extended JobKeeper rates which certain workers are entitled to.

28^th September, 2020-3^rd January 2021

Full-time workers are entitled to $1200 and workers working less than 20 hours every fortnight are entitled to $750.

4^th January 2020- 28^th March, 2021

Workers working less than 20 hours per fortnight are entitled to $650 and full-time workers to $1000.

Perquisites For Employers

The eligibility evaluation dates for employers is 1^st July, 2020 and will come into effect from 3^rd August, 2020. The tier payment for employees will be decided based on their worked hours. The evaluation is based on two fortnightly pay time-frames before 1^st March and 1^st July, 2020. Employees eligible from 1^st March will be evaluated according to the greater number of hours.

Businesses Prerequisites

Non-profits and businesses need to re-evaluate their eligibility to claim the extended JobKeeper payments. This should be done concerning the real turnover in the September quarter 2020. This will assist them to lodge their Tax Return Perth successfully. They should also prove their compliance with the decline in turn over the test. They again need to assess their eligibility for the time-frame of 4^th January-28^th March, 2020. They must pass the decline-in-turnover test for the December quarter to qualify for the March quarter.

5.0

Supportive and great management in every single way, I had a great experience with Tax Return Perth and their Business Tax Return services. I feel safe and satisfied with their services, also their experiences Tax Accountant Perth not only help me in the lodge the tax return but also gave the proper suggestions regarding my business. Thanks for your tax preparation services who really worked for me.
Those who are looking for Tax Return Near Me, highly recommend Tax Return Perth for their excellent work in the field of tax lodgement.

Pathma Naburn
I have no words to say about the phenomenal work by tax return Perth. Although they work from their office, their prompt response and effective communication make me believe that I have hired a personal accountant for Tax Return Filing myself. It's been close to 2 years they are handling my individual tax return as my long working hours in the office are not letting me concentrate on my tax issues. Their experienced team is well versed in managing tax return services and maintaining your financial health to its best. Your search for the best tax return near me ends with them as they won't let you down. Go try it and get mesmerised with their quality of work.

Mayank Mehta
Tax Return Perth has been a lifesaver for me. I value their expertise and ongoing compassion and kindness. We have been with other Tax Return Perth for several years and have referred them on to a number of our friends with small businesses. You can not fault their Tax Preparation work ethic and quality of work, and they always makes themselves available. We wouldn't be where we are at with our small business without them as our accountant. Would definitely recommend Tax Return Perth to people living near Perth, CBD

Yeshey Nidup