JobKeeper 1.0, JobKeeper 2.0, extensions, declaration dates, and ATO online forms…. it’s confusing, isn’t it?!
Don’t worry, we have broken it down step by step with key actions to take so you know EXACTLY what to do next.
We are now at the beginning of January 2021. JobKeeper 1.0 is now finalised and we are smack bang in the middle of JobKeeper 2.0.
JobKeeper 2.0 has two ‘extensions’:
• Extension 1 which ran from 28 September 2020 – 3 January 2021 (JobKeeper fortnights 14 – 20); and
• Extension 2 which runs from 4 January 2021 to 28 March 2021 (JobKeeper fortnights 21 – 26).
Here is a timeline of important dates and actions to be taken over the next several weeks:
3 January 2021
This marks the END of the period for JobKeeper 2.0, Extension 1 (or when using the ATO’s fortnight numbering system, fortnight 20).
- Now is the time to get your financial information right up to date to 31 December 2020 asap.
This will be needed for the December 2020 monthly declaration and also to assess eligibility for JobKeeper 2.0, Extension 2.
4 January 2021
This marks the BEGINNING of the period for JobKeeper 2.0, Extension 2 (or when using the ATO’s fortnight numbering system, fortnight 21 onwards).
- Ensure your eligible employees are paid the new minimum JobKeeper amounts from this date onwards – either $1,000/fortnight for tier 1 or $650/fortnight for tier 2 employees.
- If you are up to date with your numbers – you can start submitting your December 2020 monthly declaration for JobKeeper fortnights 18 – 20 from now until 28 January 2021. The sooner you submit, the sooner the ATO will pay!
28 January 2021
The December 2020 monthly declaration is due to be submitted to the ATO for JobKeeper Extension 1, fortnights 18 – 20. (Note, the original date was 14 January 2021 however the ATO extended this date to 28 January 2021).
- Ensure your December accounts are up to date to 31 December 2020.
- Review your business and determine an estimate of your turnover for January 2021.
- Review your eligible employees.
- Complete and submit the December 2020 monthly declaration to the ATO.
31 January 2021
New entities applying for JobKeeper for the first time need to be enrolled with the ATO by this date.
Also, the minimum JobKeeper wage condition for fortnights 21 & 22 needs to be paid.
- Ensure your eligible employees have been paid the new minimum JobKeeper amounts for fortnights 21 & 22 by this date – either $1,000/fortnight for tier 1 or $650/fortnight for tier 2 employees.
Remember, the JobKeeper payment scheme is a reimbursement scheme. If employees have not been paid, you are not eligible to receive the ATO payment.
- For businesses already enrolled in the JobKeeper scheme, in order to ensure you continue to receive JobKeeper payments for Extension 2, you must satisfy the actual decline in turnover test by comparing your December 2020 quarter turnover with your December 2019 quarter.
- For new entities enrolling into JobKeeper for the first time, you need to enroll and submit a ‘Check decline in turnover’ form to the ATO by 31 January 2021 to ensure you are paid for JobKeeper fortnights beginning on 4 January 2021 onwards. This form is available through your tax agent or the ATO business portal.
14 February 2021
The January 2021 monthly declaration is due to be submitted to the ATO for JobKeeper Extension 2, fortnights 21 & 22.
- Ensure your accounts are up to date to 31 January 2021.
- Review your business and determine an estimate of your turnover for February 2021.
- Review your eligible employees.
- Complete and submit the January 2021 monthly declaration to the ATO.