From Monday 1 June, businesses claiming the JobKeeper subsidy for the month of May need to log into the Business Portal or Tax Agent Portal (through us) to:
- Report May 2020 turnover;
- Report projected June 2020 turnover, and;
- Reconfirm the number of eligible employees and eligible business participants.
Employers have 14 days (until 14 June 2020) to lodge their information in order to receive the wage reimbursement for May.
The JobKeeper reimbursement for May will not be paid until the monthly declaration is made. Therefore, it is best to lodge it as soon as possible to avoid cash flow delays.
It is important to note:
- Monthly turnover should be calculated as accurately as possible;
- Keep a record of how you calculated your May turnover and projected June turnover;
- Check the eligible employees for May and report any changes;
- While reporting actual turnover will not affect your eligibility to receive JobKeeper, it provides unidentifiable statistics for the ATO to monitor how businesses are progressing;
- Ensure you keep all documentation as the JobKeeper scheme is largely a self-assessed scheme in order for businesses in need to receive wages support as soon as possible, however the ATO may be conducting audits in the future and therefore it is imperative to keeprecords of the basis of your reported figures on file.