During this pandemic, Job keeper Payment Scheme; administered by Australian Tax Office is a boon to every business and non-profit organizations including self-employed as well.
As a tax agent, the prime duty is to ascertain the client’s eligibility criteria to avail the benefit of Job keeper scheme.
- Employer’s eligibility: If your client holds a business in Australia as on March 2020 or whether your client is a non-profit organization.
Whether your client (employer) is a Deductible Gift Recipient declared for a public fund or as a public fund operated under Overseas Aid Gift Deductibility Scheme.
If the employer has employed at least one employee in the year 2020 either in March or July depending on the fortnight in which Job keeper payment is claimed.
If the aggregated turnover is less than $1 billion, 30% fall in turnover.
Or, aggregated turnover is more than $1billion, 50% fall in turnover.
- Employee’s Eligibility Criteria:
If the employment has taken place as on 1st March 2020 or 1st July 2020 either as a long-term employee or non-casual employee.
The employee was 18 years or above at the time of employment.
Must be a tax resident of Australia or an Australian citizen as mentioned in Section 7 of Social Security Act, 1991.
Failing these criteria can make employees ineligible for Job keeper payments. It is the duty of the tax consultants to make their clients aware about the criteria of the Job keeper scheme.
