A legislative instrument was registered on 14 August 2020 amending the JobKeeper rules to allow businesses to claim the subsidy in respect of new employees. The changes apply to JobKeeper fortnights beginning on or after 3 August 2020.
Under the changes, the reference date for assessing which employees are eligible for the JobKeeper payment is now 1 July 2020.
Another very positive change relates to the ability for an employee to re-nominate with a new employer (which was previously not allowed). Broadly, if an individual was a 1 March 2020 employee of another entity but is not employed by that entity at any time from the start of 1 July 2020, then the individual is now permitted to give a nomination notice to a new employer. The same applies for eligible business participants, as applicable.
The ATO has also confirmed that for fortnights commencing on 3 August and 17 August 2020, employers will have until 31 August 2020 to meet the wage condition for all new eligible employees who are now included in the JobKeeper scheme under the 1 July 2020 eligibility test.
How can Elite Accounting Solutions Help?
Now more than ever, the team at Elite Accounting Solutions are positioning ourselves to help business owners prepare for what is ahead of them. If you have any concerns about the income and tax implications of any recent changes, please do not hesitate to contact our office and speak with one of our accountants.
COVID-19#JobKeeper Payment#Tax Return 2020#Small Business