JobKeeper Payment Accountants
At Lotus Smart, we can provide the best JobKeeper payment advice for your company. We know that this is a difficult and confusing time, which is why do our best to support you through it, giving you the best chance of coming out the other side intact. A fully qualified and highly skilled specialist at our advisory firm can determine your eligibility for the stimulus package and help you lodge your application correctly, ensuring you start receiving payments sooner rather than later.
What is the JobKeeper Payment?
As a result of the COVID-19 pandemic, many businesses in Australia are struggling to generate cash flow and retain their employees. In an attempt to prevent unemployment rates from rising and minimize the damage to the economy during the health crisis, the Federal Government has instituted the Job Keeper Payment subsidy. This helps eligible businesses to finance their wages and salaries which helps to keep employees connected with their employers for the benefit of both.
What Do Business Owners Need to Know About JobKeeper Payments?
There are several things you need to know about the JobKeeper stimulus package in Australia:
- A monthly declaration of turnover needs to be submitted to the ATO to reconfirm eligibility
- The subsidy covers up to $1,500 a fortnight before tax for each employee
- The subsidy is currently slated to expire on September 27, 2020
Who is Eligible for JobKeeper Payments?
Employers who are eligible for Job Keeper include businesses and not-for-profit organizations that were operating and paying at least one eligible employee on March 1st, 2020. The business must also have had a sufficient fall in turnover based on a threshold of aggregated turnover. We can help you calculate this while taking tax obligations and other bookkeeping elements into account. Employees who are eligible for the scheme include those working full-time, part-time, or fixed term for your business on March 1st, 2020. Casual employees are eligible if they’ve been working for an employer for 12 months or longer.
How Do You Apply for JobKeeper Payments?
Applications for the JobKeeper subsidy can be completed on the ATO website, after which you will need to provide information on specific eligible employees. Our JobKeeper payment accountants can guide you through each step of the process. Our stimulus advice will expedite your enrolment and reduce unnecessary delays or complications at an affordable price.
Get JobKeeper Payment Advice Today
If you need professional and cost-effective advice regarding JobKeeper payments, the team of personal and business accountants at Lotus Smart can help. We can assist businesses throughout Melbourne and beyond, including South Melbourne, North Melbourne, Essendon, Blackburn, Bendigo, and Geelong. Get in touch with us today to make a booking by visiting our Clayton office, calling (03) 9561 9922, or submit an online inquiry.