Exiting Jobkeeper for Monthly, Fortnightly, and Weekly Payrolls

1

• Exiting Jobkeeper for Monthly, Fortnightly, and
  Weekly Payrolls

2
Exiting Jobkeeper for Monthly, Fortnightly, and
Weekly Payrolls

• In the wake of coronavirus, government assistance
  through Jobkeeper payment to Australians is
  additional support provided to the people. It is
  quite helpful to reduce the economic impact.

• Jobkeeper payment implies that a worker or an
  employee in Australia will get a fortnightly
  payroll of 1,500 by the Employer (before tax).
  However, the Jobkeeper payment is open for
  eligible businesses only, and in light of the
  fact, some rules are particularly sanctioned to
  check business eligibility.

3
Changing shifts in Jobkeeper

• Through the commencement of the Jobkeeper
  program, the government plans to support people
  or businesses suffering a lot, as some trade
  restrictions have been imposed on them due to the
  coronavirus crisis.
• But the interaction of JobKeeper was still a
  matter of confusion, as people were finding it
  difficult to understand. That's why the
  government came ahead on 8 June 2020 and
  announced some crucial details though Media
  release.

• The announcement was made to clear the confusion
  on the exit of businesses from the Jobkeeper
  program. According to the government, from 20
  July 2020, Jobkeeper payment will not be provided
  to the Employer engaged in the childcare sector.
• The intent behind doing this is to support
  families with the resumption of the childcare
  subsidy, so they look after their child amid this
  hard time in a better way. However, further plans
  will be revealed by the government after 23 July,
  as the government is still preparing for
  substantial arrangements in the wages subsidy
  system.

4
The expectation for Extension and Removal of
Scheme

• The tourism and hospitality sector are some of
  the most affected areas, which have become the
  easiest victim of this hard-hitting situation.
  Businesses are struggling, no wonder, because
  people follow social distancing that holds them
  back to go outside and purchase items.
• Similarly, international flight restrictions are
  some of the strong reasons why the government is
  planning a Jobkeeper extension in these sectors.

• The changes are still under consideration the
  government is planning which sector no longer
  requires JobKeeper assistance or which sector
  needs an extension. The extension of the scheme
  is expected for airlines, and removal is expected
  in those areas that comparatively have a high
  recovery rate.

5
Payroll Cycle

• It's not that confusing as most people wonder,
  indeed you can ask for the assistance of
  accountants in Melbourne as they can guide you
  exceptionally well on how to work out on various
  things. According to the Federal government,
  Jobkeeper payment will be exempted from Payroll
  tax so that Employers can feel stress-free for
  sure.

6
Payroll Cycle

• But whats the process of Payroll Jobkeeper? What
  dates are Jobkeepers paid? Can employees choose
  Jobkeeper payroll? All these questions are
  usually to arrive in your mind. But don't worry,
  with the help of an accountants advice, you'll
  find the easiest way to come out of this puzzle.

7
Thanks for Watching
www.accountsnextgen.com [phone] info_at_accou
ntsnextgen.com.au