JobKeeper Scheme – Sole Traders & Other Entities

Following on from our JobKeeper Q&A Call, we wanted to update you with the most current information for the JobKeeper Scheme for Sole Traders and Other Entities as of 16 April 2020.  The ATO has released the operational guidelines set out below.

Here is what we currently know and for all these steps we will be providing you with authorities to enrol you in the system and templates to meet all your eligibility and record keeping requirements and help you determine your business eligibility.

You as a Business Participant for JobKeeper

If you are self-employed, a sole trader, partner in a partnership, or trustee in a trust then it is not necessary that you pay yourself $1,500 per fortnight.
We are still waiting for the ATO to provide the instructions on how you will nominate the individual to receive the Jobkeeper payment and how to provide bank details for the payment.

Are you an Eligible business participant?

You are an eligible business participant if you meet all of the following:

  • You are an individual not employed by your entity.
  • You are actively engaged in the business carried on by your entity from 1 March 2020 onwards.
  • You are one of the following from 1 March 2020 onwards:
    • a sole trader
    • a partner in a partnership
    • an adult beneficiary of a trust
    • a shareholder or director in the company.
  • As at 1 March 2020, you are both
    • aged at least 16
    • an Australian resident (within the meaning of section 7 of the Social Security Act 1991), or a resident for income tax purposes and the holder of a special category (Subclass 444 – NZ Citizen) visa.
  • You are not currently receiving government parental leave pay, dad and partner pay.
  • You are not currently totally incapacitated for work and receiving payments under an Australian workers’ compensation law in respect of your total incapacity to work.
  • You are not an employee (other than a casual employee) of another entity.
  • You are not currently receiving JobSeeker payments through Centrelink.
  • You have completed a JobKeeper nomination notice, and not given another entity a JobKeeper nomination notice.

Eligible business entities

Your entity is eligible if:

  • on 1 March 2020, it carried on a business in Australia
  • it satisfies the fall in turnover test for the relevant period
  • it had an ABN on 12 March 2020
  • it had lodged, on or before 12 March 2020, at least one of
      • a 2018–19 income tax return showing that it had an amount included in its assessable income in relation to it carrying on a business, or
      • an activity statement or GST return for any tax period that started after 1 July 2018 and ended before 12 March 2020

How to register

When you have assessed that your business is an eligible entity and you are an eligible business participant you need to register for JobKeeper with the ATO.

You may register from 20 April 2020 using an online form, which will be available on the ATO website. The registration must occur by the end of April 2020 if your business has experienced a decline in turnover during March, and you are seeking to claim payments for that period.

You may also register in a later month if you are not yet eligible but believe you will see a decline of 30% or more in turnover.
Additional information on reporting requirements will be available soon.

Need more help?

You can find more information from the ATO, including examples of eligible recipients and entities HERE.

We hope that the above information is helpful and has given you the confidence to approach the JobKeeper enrolment process. We are here to assist and can do the registration and all other necessary requirements or steps on your behalf if you would prefer.

To get our assistance with your JobKeeper application, setup and reporting, please do the following ASAP:

Step 1: Read these post in detail to check and confirm your eligibility.

Step 2: Fill in THIS AUTHORISATION FORM.

Step 3: We will contact you with the next steps you need to action depending on your business.

Please note: Costs may apply for us to do this work on your behalf. Please submit the form above to register your interest and we will contact you with information about costs that may apply to your circumstances.

Contact Us with any Questions you have about the JobKeeper Scheme.

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