News & Publications

01

JobKeeper extension 2.0

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This extension period will run from 4 January 2021 to 28 March 2021.

You will need to show that your actual GST turnover has declined in the December 2020 quarter relative to a comparable period (generally the corresponding quarter in 2019). See the actual decline in turnover test.

You also need to have satisfied the original decline in turnover test. However, if you:

• were entitled to receive JobKeeper for fortnights before 28 September, you have already satisfied the original decline in turnover test

• are enrolling in JobKeeper for the first time from 28 September 2020, if you satisfy the actual decline in turnover test, you will also satisfy the original decline in turnover test (except for certain universities). You can enrol on that basis.

You can be eligible for JobKeeper extension 2 even if you were not eligible for JobKeeper extension 1.

The rates of the JobKeeper payment in this extension period are:

• Tier 1: $1,000 per fortnight (before tax)

• Tier 2: $650 per fortnight (before tax).

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Source: https://www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-extension-announcement/?gclid=CjwKCAiAsOmABhAwEiwAEBR0ZuFU_XO76sn2Gb7VqwViih8Nz4oY5qvPkqMxul1kxz1T7dgUAt-9oBoC268QAvD_BwE&gclsrc=aw.ds

02

JobKeeper extension 1.0

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This extension period will run from 28 September 2020 to 3 January 2021.

You will need to show that your actual GST turnover has declined in the September 2020 quarter relative to a comparable period (generally the corresponding quarter in 2019). See the actual decline in turnover test.

You also need to have satisfied the original decline in turnover test. However, if you:

• were entitled to receive JobKeeper for fortnights before 28 September, you have already satisfied the original decline in turnover test

• are enrolling in JobKeeper for the first time from 28 September 2020, if you satisfy the actual decline in turnover test, you will also satisfy the original decline in turnover test (except for certain universities). You can enrol on that basis.

The rates of the JobKeeper payment in this extension period are:

• Tier 1: $1,200 per fortnight (before tax)

• Tier 2: $750 per fortnight (before tax).

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Source: ​https://www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-extension-announcement/?gclid=CjwKCAiAsOmABhAwEiwAEBR0ZuFU_XO76sn2Gb7VqwViih8Nz4oY5qvPkqMxul1kxz1T7dgUAt-9oBoC268QAvD_BwE&gclsrc=aw.ds

03

COVID-19 early release of super

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Eligibility

To be eligible, a citizen or permanent resident of Australia or New Zealand must require the COVID-19 early release of super to assist them to deal with the adverse economic effects of COVID-19.

In addition, one of the following circumstances must apply:

• you are unemployed

• you are eligible to receive one of the following          

  • JobSeeker payment

  • Youth Allowance for job seekers (unless you are undertaking full-time study or are a new apprentice)

  • Parenting payment (which includes the single and partnered payments)

  • Special Benefit

  • Farm Household Allowance

   

• on or after 1 January 2020 either          

  • you were made redundant

  • your working hours were reduced by 20% or more (including to zero)

  • you were a sole trader and your business was suspended or there was a reduction in turnover of 20% or more (this can be either before or after GST provided you include or exclude GST for both your pre and post calculation) – partners in a partnership are not eligible unless the partner satisfies any other of the eligibility.

   

Temporary residents are not eligible to apply for a COVID-19 early release of super in 2020–21. If your visa has expired and you have left Australia, you may be eligible for the Departing Australia superannuation payment (DASP).

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Source: https://www.ato.gov.au/Individuals/Super/In-detail/Withdrawing-and-using-your-super/COVID-19-early-release-of-super/#Eligibility

04

Boosting cash flow for employers

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Eligibility

Businesses (including sole traders, companies, partnerships or trusts) and NFP organisations will be eligible to receive the cash flow boost if:

• you are a small or medium business entity or NFP of equivalent size (that is, an entity with aggregated annual turnover less than $50 million)

• you held an Australian business number (ABN) on 12 March 2020

• you either      

  • made payments to employees subject to withholding (even if the amount you were required to withhold was zero), such as      

    • salary and wages

    • director fees

    • eligible retirement or termination payments

    • compensation payments

    • voluntary withholding from payments to contractors

     

  • were required to pay an amount in relation to alienated personal services income you received (even if the amount you were required to pay was zero)

   

• on or before 12 March 2020, you lodged at least one of          

  • a 2019 tax return showing that you had an amount included in your assessable income in relation to you carrying on a business

  • an activity statement or GST return for any tax period that started after 1 July 2018 and ended before 12 March 2020 showing that you made a taxable, GST-free or input-taxed sale.

   

There are only exceptional circumstances where we may have discretion to give you further time after 12 March 2020.

You won’t be disadvantaged if you have been given a deferral for your earlier activity statement or are not required to lodge your tax return yet. Read more about the impact of lodgment deferrals.

You are not eligible for the cash flow boosts if you change the way you operate for the sole or dominant purpose of becoming entitled to cash flow boosts when you would otherwise not be entitled

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Source: https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/In-detail/Boosting-cash-flow-for-employers/#Eligibility