COVID-19

JobMaker Hiring Credit

Employers now have more incentive to employ workers under 35! The JobMaker Hiring credit legislation has now been passed into law! This credit was part of the 2020-21 Budget, which will operate until 6 October 2022. It is designed to improve the prospects of young individuals getting employment following the devastating impact of COVID-19 on the labour market.

JobKeeper 2.0 – Determining Tier 1 or 2

JobKeeper 2.0 will see the introduction of two tiers of payment in both extension 1 & 2. The higher of the two payments, tier 1, will be for employees who worked 80 hours or more in the 4 weeks of pay periods before 1 March 2020 or 1 July 2020. Employees working less than 80 …

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JobKeeper 2.0

The JobKeeper program will be extended to 28 March 2021 for eligible businesses. JobKeeper 2.0 will be split into 2 extension periods being quarter 2 and quarter 3 of the 2020-21 financial year. Businesses will need to prove their decline in turnover again, even if they are currently receiving the payments as part of JobKeeper …

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JobKeeper 1.1

On 21 July 2020, the Government announced changes to the JobKeeper program. It will be extended until 28 March 2021. Information about the extended program can be found here. Those receiving JobKeeper payments under the current program, will continue to do so until 27 September 2020. While the current program remains essentially the same, there …

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JobKeeper Payment

To help employers retain and/or re-engage their staff during the COVID-19 pandemic, the government has introduced a new payment known now as JobKeeper. The fortnightly payments will be made directly to employers and will be for $1,500 before tax for each eligible employee for up to 6 months. Below is a summary of facts about …

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The “Boosting Cash Flow for Employers” payment (PAYGW Boost Credit)

This measure promises to “refund” the PAYG withholding reported on the BAS or IAS by employers back into their integrated client accounts (ICA) as an offset against any existing BAS/IAS debt. To be clear, this is not a supply of cash to employers into their banks.

COVID-19 and Payroll Tax

During the Corona Virus pandemic, the following states have decided to either waive or defer payments of payroll tax. See below for further information. VICTORIA For those businesses with a payroll of less than $3M, payroll tax for the whole 2019-20 financial year will be waived. Also on offer is a deferral of payroll tax …

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COVID-19: Government Grants

The following grants are on offer for businesses affected by Corona Virus restrictions. VIC Circuit Breaker Action Business Support Package Business Costs Assistance Program – grants of $2,000 for small businesses, including sole traders, regardless of whether they employ people or not. Applications for this grant end on 15th March 2021. Licensed Hospitality Venue Fund …

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