$2.5bn JobTrainer package: What you need to know
Last week the PM announced a $2.5b JobTrainer package designed to retrain, upskill and open new job opportunities.
In March the PM announced an apprentice wage subsidy for those employers with less than 20 employees. Employers are reimbursed 50% of an eligible apprentice’s wage up to a maximum of $7,000 per quarter per apprentice.
Now, businesses with under 200 employees can access the subsidy for apprentices employed from 1 July 2020. The apprentice wage subsidy is also being extended to 31st March 2021.
Anyone who is eligible for JobKeeper has been excluded from also claiming the wage subsidy, meaning you can only claim one.
As part of the JobTrainer package short courses and full qualifications will be potentially paid for by the government. The details about which courses is still being worked on
JobKeeper 2.0 – https://treasury.gov.au/sites/default/files/2020-07/Fact_sheet-JobKeeper_Payment_extension.pdf
This is only the first lot of information. We will provide a further update early next week
If your business currently receives JobKeeper, you should expect to continue to receive this until 27 September 2020 (funds to be received in October)
From 28 September 2020, employers seeking to claim JobKeeper payments will need to reassess their eligibility and prove an actual decline in turnover, not projected as was the case for the JobKeeper 1.0.
Actual GST Turnover for June and September will need to have fallen by at least 30% (15% for ACNC-registered charities, 50% for large businesses) compared to the same periods in 2019. The decline for both of the quarters needs to be met to continue receiving JobKeeper payments. Which is a change from Version 1.0. There will likely still be alternative tests.
This information will need to be lodged before the BAS is due.
Payments to employees will also change.
From 28th September – 3 January 2021
• $1,200 per fortnight per employee or business participant who worked > 20 hours per week (this is based on the average hours worked before 1 March 2020)
• $750 per fortnight per employee or business participant working < 20 hours per week (this is based on the average hours worked before 1 March 2020)
From 4 January 2021 – 28 March 2021
• $1,000 per fortnight per employee or business participant who worked > 20 hours per week
• $650 per fortnight per employee or business participant working < 20 hours per week
The Coronavirus supplement will continue, albeit on a reduced rate of $250 per fortnight (from $550), from 25 September until 31 December 2020 for eligible individuals.
There have been further changes eligibility, and the job seeking requirements have been re-introduced.
Employers will fewer than 20 staff have until the 31st of July to finalise payroll via Single Touch Payroll Reporting(STP)
For those of you who didn’t pay your June Super in June, just a friendly reminder the June Quarter super is due on the 28th July.
The next set of due dates are:
• 25th August for the June BAS.
• 28th August for The 2020 Taxable Payment Annual Reports (TPAR) for all business’s in the Building & Construction, Cleaning Services, Security, IT, Courier for Freight Services
We are working through those now for those clients that have requested us to. Please contact us if you would like us to help you with any of the above.