Hawkesbury Bookkeeping

Affordable Bookkeeping Solutions for your Small Business

stimulus

Is your business eligible for the JobKeeper subsidy?

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The Government has introduced the JobKeeper Payment scheme as a temporary subsidy for businesses significantly affected by coronavirus (COVID-19). Eligible employers, sole traders and other entities can apply to receive $1,500 per eligible employee per fortnight.

General eligibility for small business to receive the JobKeeper payment is as follows:

  • You carried on a business in Australia on 1 March 2020
  • You employed at least one eligible employee on 1 March 2020
  • Your eligible employees are currently employed by your business for the fortnights you claim for (including those who are stood down or re-hired)
  • Your business has faced a 30% fall in turnover

Once you have established eligibility, you must enrol for the JobKeeper payment. You must also determine if your employees are eligible to receive the JobKeeper payment.

Sole traders and eligible business participants may also qualify.

Need a hand with everything JobKeeper? Book a Chat with us to see if you are eligible. Don’t delay. Get this done by 31 May 2020.

Have you lodged your March BAS yet?

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Eligible employers have already received a cash flow boost on their March activity statement account. This is generally $10,000.

If you haven’t lodged your March BAS yet, don’t worry, you’ve still got time. If you’re eligible, the cash flow boost will automatically be credited when the March activity statement is lodged.

The cash flow boost will be credited against anything you owe on that BAS. For example, if you have PAYG withholding and GST payable, the boost will be credited against those amounts and excess credit will be refunded to you.

To find out if you’re eligible, Book a Chat with us or call on 0416 09 33 94. Now is a great time to get your books up-to-date.