JobKeeper Payment extension 2, starts soon.

The second JobKeeper Payment extension starts from Monday 4 January 2021.

It covers the JobKeeper fortnights between Monday 4 January 2021 and Sunday 28 March 2021.

It means:

  • if you are eligible for JobKeeper extension 2 you will need to complete a new decline in turnover test. This new decline in turnover form must be submitted before existing eligible employers can complete their business monthly declarations from 1 February 2021.
  • the payment rates for your eligible employees will change
  • if you are new to JobKeeper you can enrol in the program to participate in the remaining fortnights.

To support you over December and January the ATO have extended some reporting dates.

For JobKeeper fortnight 20 (Monday 21 December 2020 to Sunday 3 January 2021):

  • You will have until the end of Monday 4 January 2021 to pay your employees (meet the wage condition).
  • Business monthly declarations for JobKeeper fortnights 18, 19 and 20 are now due 28 January 2021.

For JobKeeper fortnights 21 and 22 (starting Monday 4 January 2021 and Monday 18 January 2021):

  • You will have until Sunday 31 January 2021 to meet the wage condition for your eligible employees.

This is to make sure that you have paid your eligible employees before claiming JobKeeper payments in your February monthly business declarations.

The required decline in turnover percentage relevant to your organisation remains the same for the JobKeeper extensions, being:

  • 30% if your turnover is $1 billion or less

For more information, click the link to the ATO below.

https://www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-key-dates/

More To Explore

EXCITING NEWS FROM BPI ACCOUNTING

Since BPI Accounting was founded in 1999, we have strived to provide our clients the highest level of quality expertise and service excellence.  After careful

How to thrive in a changed world

One year on, small business owners are still struggling with the effects of the pandemic – lockdowns in some parts of the world, closed borders