The JobKeeper Scheme also recognises that certain participants in a business (such as a sole trader) have also been affected by the economic downturn caused by the Coronavirus. Accordingly, in order to provide a benefit to such business participants, payments can also be made to an entity in respect of what is referred to as an eligible business participant (i.e., generally controlling individuals who are not employees of their business).…  Read more

Since the release of the Government’s JobKeeper Scheme, the NTAA has fielded a number of queries from our tax agent members, looking to make an application for a JobKeeper Payment on behalf of their clients and, where applicable, their own practices. A number of these commonly asked questions are addressed below. Question 1:   Do businesses have to meet the decline in turnover test on an ongoing basis? The answer is…  Read more

We would like to take this opportunity to update you on the JobKeeper Payment Scheme. Bills passed but no details are yet available Yesterday, the Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 was introduced and passed both Houses of Parliament. Unfortunately, it did not contain the finer detail of how the JobKeeper Payment Scheme (‘the Scheme’) will operate. What it did was set up a framework including giving…  Read more

Our Facebook page is always up to date as we eagerly await any updates to support small businesses, just like you. However, it takes several days from the announcement for the details to be worked out (by the ATO/ Government) and for any new measures to be legislated. We prefer waiting until these are certain to advise our clients as lot of them are not open to interpretation. However, the…  Read more