Registrations will open for eligible employers through ATO online services from 7 December 2020.
Claimed quarterly in arrears by the employer from the Australian Taxation Office (ATO) from 1 February.
Register to claim JobMaker Hiring Credit if you hire additional employees, based on conditions in the link below.
New jobs created until 6 October 2021 will attract the JobMaker Hiring Credit for up to 12 months from the date the new position is created.
$200 a week for each eligible additional employee they hire aged 16 to 29 years old.
$100 a week for each eligible additional employee aged 30 to 35 years old.
NTAA Practice Update - November 2020
Tax cuts pass Parliament
Tax relief for business
Simplified home office expense deduction claims due to COVID-19
Deferrals of interest due to COVID-19
COVID-19 and loss utilisation
Employees on JobKeeper can satisfy the ‘work test’
Click here for document: NTAA Practice Update - November 2020
NTAA - 2020/21 Federal Budget
Personal income tax changes
Changes affecting business taxpayers
Changes affecting companies
FBT changes
Other budget announcements
NTAA - JobKeeper 2.0 Alternative Decline in Turnover Tests
Alternative decline in turnover tests for new businesses
Alternative decline in turnover test for businesses with a substantial increase in turnover
Alternative decline in turnover test for businesses with an irregular turnover
Alternative decline in turnover test for businesses affected by drought or natural disaster
Alternative decline in turnover test where acquisition or disposal changed turnover
Alternative decline in turnover test where business restructure changed the entity’s turnover
Alternative test for sole traders or small partnerships with sickness, injury or leave
Click here for document: NTAA - JobKeeper 2.0 Alternative Decline in Turnover Tests
NTAA - Determining actual decline in turnover under JobKeeper 2.0
TAX WARNING – GST attribution
Determining the correct GST accounting method – cash or non-cash basis?
TAX TIP – Including supplies that are not taxable supplies
Calculating actual (current) GST turnover
Click here for document: NTAA - Determining actual decline in turnover under JobKeeper 2.0
NTAA 10% decline in turnover certificate template for ‘legacy employers’
NTAA 10% decline in turnover certificate template for ‘legacy employers’
Extension period 1 – which covers the seven new JobKeeper fortnights that commence on 28 September 2020 and end on 3 January 2021
Extension period 2 – which covers the six new JobKeeper fortnights that commence on 4
January 2021 and end on 28 March 2021.
Legacy employers – 10% decline in turnover test
Click here for document: NTAA 10% decline in turnover certificate template for ‘legacy employers’
