Update April 2020

For the health and safety of our clients, our office in Briar Hill has temporarily closed and we are not conducting client appointments until further notice. We will try to remain fully operational to the best of our ability however we may not be able to be contacted directly at the office or via phone during these times.

Common Individuals questions answered

Extension of the Jobkeeper Scheme

The JobKeeper payment, which was originally due to run until 27 September 2020, will now continue to be available to eligible businesses (including the self-employed) and not-for-profits until 28 March 2021.

The payment rate of $1,500 per fortnight for eligible employees and business participants will be reduced to $1,200 per fortnight from 28 September 2020 and to $1,000 per fortnight from 4 January 2021. From 28 September 2020, lower payment rates will apply for employees and business participants that worked fewer than 20 hours per week.

From 28 September 2020, businesses will be required to reassess their eligibility with reference to their actual GST turnover in the June and September quarters 2020. They will need to demonstrate that they have met the relevant decline in turnover test in both of those quarters to be eligible for the JobKeeper payment from 28 September 2020 to 3 January 2021.

From 4 January 2021, businesses will need to further reassess their turnover to be eligible for JobKeeper. They will need to demonstrate that they have met the relevant decline in turnover test with reference to their actual GST turnover in each of the June, September and December quarters 2020 to remain eligible for JobKeeper from 4 January 2021 to 28 March 2021.

To be eligible for JobKeeper under the extension, businesses will still need to demonstrate that they have experienced a decline in turnover of 30% for those with an aggregated turnover of $1 billion or less.

If a business does not meet the additional turnover tests for the extension period, this does not affect their eligibility prior to 28 September 2020.

The JobKeeper payment will continue to remain open to new recipients, provided they meet the existing eligibility requirements and the additional turnover tests during the extension period.

Link: https://taxandsupernewsroom.com.au/extension-of-the-jobkeeper-payment-the-details/

Business Support Fund – Expansion

The Victorian Government has announced that Stage 3 ‘Stay at Home’ will be in reinstated across metropolitan Melbourne and Mitchell Shire from 11:59 on 8 July 2020.

Businesses within metropolitan Melbourne and Mitchell Shire that are affected by the return to Stay at Home restrictions may be eligible for a one-off, $5,000 grant under the Business Support Fund – Expansion program

Applications for the program close on 19 August 2020.

Link: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-package/business-support-fund

MyGov ID instructions

Attention Clients:

The Director of the company or the Sole Trader would need you to set-up their MyGov ID app and then they would have the ability to authorise other users as well online through their Relationship Manager login.

Anyone who wants access to the Business Portal will need to set-up MyGov ID on their phones (via the app) if you haven’t already.

This is the first step.

To start this process download the MyGov ID app on your phone (downloaded through your app store) and go through the proof of identity stage using two proof of identity documents each (i.e. Drivers License & Medicare Card)
Once MyGov ID is set-up on your phone you can then log into your MyGov ID via this link: https://info.authorisationmanager.gov.au/ on your PC and link your business, company or trust and proceed to the business portal (bp.ato.gov.au) to view your accounts. Once you’ve clicked the link, enter in your email address (used when you would have set-up your MyGov ID account on your phone) and enter the code generated on your PC you’re your phone. This will then take you to the stage where you can link your business to your MyGov ID and also proceed to add a user if you need to.

We also highlight that MyGov ID is how you log into the business portal (bp.ato.gov.au) and proceed to enrol into JobKeeper.

Important Worksafe update

As of 1 July 2020 there will now be new Worksafe manslaughter penalties. It may be opportune for you to review your occupational health & safety regulations and requirements via the OHS Act. The maximum penalties applied can be up to 20 years imprisonment or a maximum fine of $16.5million for body corporates. Please make sure you review your practices and worksites to mitigate any risk to injury or fatalities.

Link: https://www.worksafe.vic.gov.au/victorias-new-workplace-manslaughter-offences