How to register your business for the JobKeeper payment scheme
Eligible businesses (including sole traders) will receive $1,500 per fortnight for each employee that they retain during this time. You can enrol your business in the scheme up until the end of May, but you should do it as soon as possible due to the expected high demand for payments. Eligible payments will be backdated to 30 March.
To enrol in the JobKeeper payment scheme, you need to follow 3 steps.
Step 1: Enrol your business
You can enrol your business yourself via the business portal on the Australian Taxation Office’s website. Alternatively, a registered tax or BAS agent can go this on your behalf.
Step 2: Identify and maintain your eligible employees
You will need to provide information about your employees and your business to demonstrate your eligibility for the scheme. You’ll need to provide each employee with a JobKeeper employee nomination notice form that they’ll need to complete and return to you (or your registered tax or BAS agent) as soon as possible.
You must pay each of your eligible employees at least $1,500 per fortnight while your business is participating in the JobKeeper payment scheme. Your business will be reimbursed $1,500 per fortnight by the scheme.
Step 3: Make a monthly business declaration
Each month, you will be required to demonstrate the continued eligibility of your business and your employees for the JobKeeper payment scheme. Again, you can choose to do this yourself or your registered tax or BAS agent can do it for you.
How we can help
At Scorpion Bookkeeping, we can help you to work out whether your business and your employees are eligible for the JobKeeper payment scheme. We can also help you with your claim and with monitoring your ongoing eligibility.
In addition, we can help you to access other government support measures that your business may be eligible for during the coronavirus crisis. It’s important to get all the help you can get during this tough time and to make smart business decisions.
Contact us today to find out how we can help your business!