Following on from our post last Friday, of the latest details of the Federal Government’s JobKeeper Stimulus Package, we are now pleased to provide a summary of State (& Territory) COVID-19 Stimulus Packages.

Whilst the majority of our clients are Queensland specific, a number of clients have interests in multi-state jurisdictions.

Therefore, we provide the full package, as prepared, requiring a partial ’scroll-down’ to get to Queensland.

Please click on the below link to view the document.

https://www.lutzassoc.com.au/wp-content/uploads/2020/04/SandT-COVID19-checklist.pdf

Again, our membership allows our firm to pass this newsletter on, in its current format.

Please do not hesitate to contact our office on 07 5532 4555 if we can assist further.

Regards,

The Lutz Team.

As many of you would be aware, a wage subsidy payment directly from the Government to “eligible employers” (called the JobKeeper Payment) has been just been announced and legislated. The payment will be $1,500 per fortnight, for each “eligible employee” from 30 March 2020 to 27 September 2020 (a period of 26 weeks).

For a typical Small to Medium sized business to qualify, an employer must be able to show it has/will suffer a decline in its “projected turnover” (i.e. projected income/sales) by at least 30% for either a calendar month, from March 2020 to September 2020, or for the quarters ending 30 June 2020, or 30 September 2020. Applications applying to later periods will not be eligible for the JobKeeper payments in earlier periods.

As the JobKeeper payment is aimed to encourage employers to retain staff, “eligible employers” are then required to pay each eligible employee at least $1,500 per fortnight during the period.

Please also note, either: a sole trader, a partner in partnership, a shareholder/director of a company or a beneficiary of a trust can also receive the JobKeeper payment, if they are ‘actively engaged’ in the business, but not officially employed as an employee (in certain circumstances). However, only one individual is permissible, per entity application.

For more specific and detailed information surrounding the JobKeeper payment, please click on the below link, that we can share with you, as a subscribing member of the NTAA:

NTAA Paper: JKP 15.04.20

If you believe your business will qualify for the JobKeeper payment, details of how to enrol and apply are contained in the link below:

https://www.ato.gov.au/general/jobkeeper-payment/employers/enrol-and-apply-for-the-jobkeeper-payment/

You can enrol anytime from Monday 20th April through to Sunday 26th April, for the month of April. Due to this very short enrolment period, we strongly urge you to enrol as early as possible.

Before enrolling, you will need to ensure you have registered for your myGovID, linked it to your business and have access to the Business Portal, for the applying entity. In our experience, registering your myGovID can be a tricky process, so we suggest setting this up as soon as possible.

If you are not sure whether your business can qualify for the JobKeeper payment and you would like to discuss further, or if you have any other questions relating to this, please do not hesitate to contact our office on 07 5532 4555.

Kind Regards
The Lutz Team

Earlier this week, the Federal Government announced the extraordinary “Job Keeper” stimulus package, which will see it pay the salaries of up to six million Australians employed and hence, provide much needed financial relief for many businesses during this uncertain time.

With an offer of $1,500 per fortnight, per ‘eligible employee’, many questions arise.

To address many of the queries our office has fielded so far, we have compiled the attached information as a general guide, which may assist you in following the guidelines and rules as they have currently been announced by the Australian Government.

At this point however, there is no draft legislation available and even the ATO have been unable to provide the specific information required for many businesses, at this point. It is however, in this context that we offer this information as a general guide at this stage.

Click here to view the document: https://www.lutzassoc.com.au/wp-content/uploads/2020/04/Job-Keeper-Stimulus-Package.pdf

Click here to register your interest with the ATO: https://www.ato.gov.au/general/gen/JobKeeper-payment/

We will continue to bring you more information, on both this package and other government announcements, as they come to light.

In the meantime, should you wish to discuss any of this in further detail, please contact our office on 07 5532 4555.

We look forward to assisting you where we can, to get through these challenging times.

Kind Regards
Steven Lutz & Team