If you are currently receiving JobKeeper Extension #1 you must ensure to lodge your declaration for the December fortnight reimbursements by 28th of January 2021 – this extension has been granted due to the Christmas/holiday period.
Please be aware that JobKeeper Extension #1 ends on 3 January 2021 and you will be required to re-test for JobKeeper Extension #2 commencing 4th of January to 28th of March 2021, see below.
JobKeeper Extension #2 registration closes on the 31st of January. If you intend to continue receiving JobKeeper, please ensure you have determined and declared your eligibility with the ATO.
To qualify beyond the 3rd of January 2021 (which is the end of the final fortnight under JobKeeper Extension #1), you need to show you meet the actual decline in turnover test for the December 2020 quarter. The turnover for the December 2020 quarter must have declined by 30% or more as compared to the December 2019 quarter’s turnover. If you meet this condition, you will be eligible for JobKeeper for the fortnights from 4th January 2021 to 28th March 2021. We have until 31 January 2021 to assess the December 2020 turnover and the respective decline and notify the ATO.
Reconcile your Financial Accounts
Ensure that you have your accounts reconciled up to 31 December 2020. Using the Turnover Calculator in Xero you will be able to determine how much your revenue has changed over a set period of time – December 2020 Quarter in this case. If you use a different bookkeeping platform then your profit and loss report or GST reports should enable this comparison.
Enrol with the ATO
If you are already enrolled for JobKeeper, you will not need to re-enrol if you meet the above turnover conditions. You will just need to notify the ATO that you have met the December 2020 quarter decline in turnover test. If you are enrolling for JobKeeper for the first time, you will need to enrol using the ATO portal.
Lodge Your Monthly Declarations
On the basis you qualify, in early February (by the 14th), your normal monthly declaration will be lodged to the ATO to receive the payments for the month of January.
Pay Your Staff
The new fortnightly JobKeeper payments for this period will be the reduced $1,000 for full-time staff and $650 for part-time staff (those working less than 20 hours per week).