Life Interests Testamentary Trusts

JOBKEEPER EXTENSION

The first JobKeeper Extension period runs from 28 September 2020 to 3 January 2021.

You will need to show that your actual GST turnover has declined in the September 2020 quarter relative to a comparable period (generally the corresponding 2019 quarter).

You also need to have satisfied the original decline in turnover test.

The rates of the JobKeeper payment in this extension period are:

· Tier 1: $1,200 per fortnight (before tax)
· Tier 2: $750 per fortnight (before tax)

The Tier 1 rate applies to eligible employees who worked for 80 hours or more in the four weeks of pay periods before either 1 March 2020 or 1 July 2020. The Tier 1 rate also applies to eligible business participants who are actively engaged in the business for 80 hours or more in February 2020 and provide a declaration of that effect.

The Tier 2 rate applies to any other eligible employees and eligible business participants.

Read more at the below link:

https://www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-extension-announcement/

Please contact our office to speak to one of our accountants if you would like to discuss further. Langley McKimmie Chartered Accountants (03) 5427 8100.

We provide accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.

 

The content within these articles was correct at the time of writing. Please contact us for updated information and advice. 

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.

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