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We are still waiting for some of the finer details to be released from the ATO, however the broad rules have been released. As always please feel free to contact us if you would like any clarity around your current situation.
The Government is extending the JobKeeper Payment by a further six months to March 2021. Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the Coronavirus. The payment rate will be reduced and a lower payment rate will be introduced for those who work fewer hours. Other eligibility rules remain unchanged.
Released this week - Small Business Adaption Grant Program - up to $10 000. The objective of this program is to support small businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government, to adapt and sustain their operations, and build resilience.
COVID-19 - Latest JobKeeper Update & Local Redland City Council Support - 28 April 2020
Late on Friday night, the Treasurer released some changes to the JobKeeper program. (Nothing like keeping accountants and bookkeepers on their toes!). The biggest news is the change to eligibility to 16 and 17 year old employees. This change means that all employees aged under 18 will need to be re-tested to confirm if they are still eligible to receive JobKeeper.
For those businesses that missed out meeting the Basic Turnover Tests criteria the ATO have finally released the Alternative Test Options.