JobKeeper – Good news in the details

The good news is that the JobKeeper payment is also available to business owners that operate as Sole traders, Partnerships, Trusts and Companies. Those business owners may be entitled to the JobKeeper Payment scheme under the business participation entitlement. However, not-for-profit organisations are not included.

Your entity may be eligible for the JobKeeper Payment scheme if you:

  • have a non-employee individual who is actively engaged in the operation of the business and,
  • meet the eligibility requirements.

A limit applies of one $1,500 JobKeeper payment per fortnight for one eligible business participant. If your entity also has employees, you may also be able to claim additional JobKeeper payments of $1,500 per fortnight per eligible employee.

What happens after you enrol…

  • After you enrol, there will be other notification conditions which you will need to meet. More information will be available soon.
  • When you have worked out that your business is an eligible entity and your individual non-employee is an eligible business participant you need to enrol.
  • Your entity can enrol for the business participation entitlement from 20 April 2020 using an online form, which will be available on the ATO website.
  • Your entity needs to enrol by the end of April for payments in either the fortnights starting 30 March 2020 or 13 April 2020.
  • Additional information on notification and reporting requirements will be available soon.

See more details via this link to the ATO website, https://www.ato.gov.au/General/JobKeeper-Payment/Sole-traders-and-other-entities/.

Should you have any queries or need any assistance, please do not hesitate to contact us on 61 3 9349 3499 or at admin@adpartners.com.au.

 

Tony Dimitriadis