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 COVID-19 (Coronavirus) Jobkeeper Explained - Recorded 9/4/20 post-legislation

The Government’s JobKeeper program, one of the most generous pieces of social engineering ever, is in substance a wage subsidy but in form a tax transfer payment based on concepts in the GST Act, complete with the ATO as gatekeeper.  This program, recorded the day after the legislation was passed by parliament examines the Act and the exposure draft of the rules and considers which employers are eligible, which employees are eligible for Job Keeper and how the system works.  It’s more complex than you think!

  • The scheme in a nutshell

  • Employer eligibility under Covid-19 (Coronavirus) JobKeeper

    • Drop in turnover test – 15%. 30%. 50%

    • Actual and projected turnover for GST purposes

    • Turnover periods – months and quarters

    • Turnover in later periods

    • Alternative test

    • Startups

    • Need for documentation

  • Employee eligibility under JobKeeper - who is in and who is out – rule with casuals

  • Casuals with more than one employer

  • From when does the subsidy start?

  • How is the subsidy paid?

  • Requirement to pay wages first

  • Tax status of payments

  • Commissioner’s discretion

  • What happens if your actual turnover ends up being higher?

  • Repayment

  • Anti-avoidance

  • Sole traders and JobKeeper

[Podcast - 39 minutes]
[0.65 CPD hours]

© Television Education Network Pty Ltd 2022

Product Code: PAH7496
 Price:  $33.00 (Inclusive of GST)