MAP - January 2021 Update

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JobKeeper - payment rates reduced & new decline in turnover test

  • JobKeeper extension period 2 has commenced on 4 January 2021 and ends on 28 March 2021.  The scheme ends on this date.
  • Employers must first determine if they are eligible for this extension period.  A new decline in turnover test will be based on the December 2020 quarter compared to the corresponding period in 2019.
  • From 4 January 2021, eligible employers must pay their eligible employees at least the correct Jobkeeper amount.
  • The JobKeeper payment amount for this extension period is either $1,000 per fortnight for Tier 1 employees/eligible business participants (down from $1,200 pf) or $650 pf for Tier 2 employees/eligible business participants (down from $750 pf).
  • Employers will continue to be paid JobKeeper payments in arrears.  This means you must have made payments to employees (i.e. met the wage condition of either $1,000 pf or $650 pf) by certain dates in order to be reimbursed by the ATO.
  • For the JobKeeper fortnights 21 (from 4 January to 17 January 21), and 22 (18 January 2021 to 31 January 2021), the ATO is allowing employers until 31 January 2021 to meet the wage condition for eligible employees.

 

We will be completing business monthly declarations for December JobKeeper fortnights (from 23 November 2020 to 3 January 2021).  The due date for completion has been extended from 14 January to 28 January 2021.  We will also be reviewing the actual decline in turnover for the December 2020 quarter to determine eligibility for extension period 2 from 4 January 2021.

 

Super payments due by 28 January 2021

Employers are required to make super guarantee payments at least quarterly. For the period 1 October 2020 to 31 December 2020, payments must be received by your employee’s super fund by no later than 28 January 2021.

  • If the total SG obligation for an employee has not been made and received by your employee’s super fund by the due date, a Superannuation guarantee charge must be paid and a statement lodged.
  • We are starting to see the ATO issue letters in relation to prior quarters whereby employers have either not paid the minimum amount or the correct amount has been paid, but not on time.  The ATO receive contribution information directly from super funds, therefore can ‘data match’ if payments have been made and whether they were made on time. Please contact us if you would like to discuss your SG obligations.
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