Further to our JobKeeper 2.1 update last week, we remind you that the final payroll date under JobKeeper 1.0 concluded on 27th September 2020. We provide you with some recommendations regarding payments of Top Up wages to your staff under JobKeeper 2.1:
If you do pay top-ups and are not eligible for Jobkeeper, your business may end up out of pocket. You may choose to continue paying top-ups at the new rates at your own discretion.
If you are eligible for JobKeeper 2.1; you will not need to recirculate nomination forms to your staff and the previous nominations held will be sufficient for record-keeping purposes.
We refer you back to our Client Guide for the updated Payment rates and Tiers, as well as Key dates.
In the meantime, we request you finalise your revenue reconciliations as soon as possible for the July August September 2020 period and advise when complete so we can test your eligibility.
If possible, reconciliation of your entire file will allow us to complete your September Qtr BAS sooner and give you clarity of your cash flow requirements to the ATO for the upcoming months.
Please contact your accountant if you wish to discuss further.