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Job Keeper – don’t forget to lodge!

So you applied for Job Keeper for your business.  This alone does not get your paid.

As of the beginning of May 2020 the next ‘step’ is now available.  If you would like to be paid by the release date (being the 7th of May 2020) it would be prudent to get this next step completed as soon as possible.

Where and what is the next step?

The next part of the job keeper application is located in the same place as the Job Keeper application. For those who lodged themselves – it is found in your MyGov Portal.  BAS and Tax Agents will located it on their ATO portal for the respective client.

Click on the button Identify

You will now see a screen that reminds you of the rules for eligibility for both your business and your employees and so on.  Ensure again that you do have in fact have a complete set of nomination forms for all of those you intend to claim for.

Click Next at the bottom of the screen when you have finished reviewing this information.

You now need to indicate the Month that you first met the 30% drop in turnover.  The choices currently are April 2020 and May 2020.  Pick the one that meets your business figures.

You need to state if you are applying for a business associate – such as a sole trader, director, partner, beneficiary or shareholder.  You can only apply for one associate and you will need their tax file number and date of birth so have it ready.

Clicking next you will find a screen that details the number of eligible employees you have proposed to claim in your application for each fortnight.

This can be altered if needed.  If you are using single touch payroll you won’t need to do much more than ensure that the number of employees are correct.  If you are doing wages by hand be prepared to lodge tax file numbers, dates of birth etc for each staff member you wish to lodge for.

Clicking next brings you to the part where you report the GST turnover for your business.

You will see you need to type in an amount for April 2020 and an estimate for May 2020.  Whichever way you choose to calculate these numbers it is VITAL that you keep a record of how you have done so.  It is very likely that you will be asked by the ATO to prove this later.  Given the sheer size of the amounts of money being paid – getting this wrong, or failing to prove properly may mean a horrific debt and fines.

Clearly these reports will need to be lodged as early as possible at the beginning of each month – reporting on income for the month just gone.  Keeping good records for your business has never been more important.  Some programs like MYOB and XERO are providing reports that help you do this if you are struggling to do it by hand.

If all else fails – BAS Agents and Tax Agents are able to provide you strong support in this area.