10 Things Employers Need To Do to Access the Job Keeper Payment
Our Chief Financial Officer and Owner of Balance 123 Accounting, Barrett Campbell, has put together a list of the first 10 things you need to do to be able to access the JobKeeper Payment. Move now to make the most of this payment for yourself, your employees and your business.
See Barrett chat with our NDIS Subject Matter Expert Chantelle Robards in a webcast entitled Business Disruption - NDIS on our YouTube channel here.
1. You need to have been an eligible employer before 1 March 2020.
2. Enrol with the ATO for the JobKeeper Scheme from 20 April 2020. Once the online form is available you will be able to register as a sole trader and provide the necessary bank details.
3. You must have at least one eligible employee. You will need to approve information from 4 May 2020 via the business portal as part of the JobKeeper Declaration Report.
4. Meet the Turnover Test – what we know so far is the ATO documentation states you need only pass this test once and that it is not required to align to your BAS reporting period.
5. Notify your employees in writing that you have nominated to enter the scheme.
6. Have all eligible employees sign a copy of the approved nomination form and return to your tax agent by 30 April 2020.
7. Pay all eligible employees at least a gross wage of $1,500 per fortnight.
8. Prepare payroll in accordance with the ATO guidance, regarding the use of the appropriate allowance codes, lodgement via STP or other method as prescribed by the ATO.
9. Complete the JobKeeper declaration report each month. Even though you must meet the turnover test once, you will still need to report your income each month (more information to come). You will also confirm the eligible employees each month.
10. Lodge your Activity Statements.
It is in your best interests to kick off this process now and if you have any questions please get in touch with the Business Centre on 4925 7700 and we will set you a free appointment with one of our Business Advisors to help guide you through it.
This event and Business Advisory services under the Business Connect program are funded and supported by the NSW Government through the NSW Department of Treasury. Business Connect is a dedicated and personalised NSW Govt program that provides trusted advice to help you start or grow your business. Please go to the Business Connect website now to book an appointment with a Business Advisor...https://business-connect-register.industry.nsw.gov.au/ Or contact The Business Centre on 4925 7700 or via firstname.lastname@example.org
These Top Ten tips come from our latest webcast featuring Barrett Campbell and Chantelle Robards - our two NDIS Business Specialists discussing Business Disruption to NDIS sector business in regards to events such as COVID19.
There is a shorter follow up video with Chantelle and Barrett talking through their Top 5 Tips for business to here.
Watch our Business Disruption videos on our YouTube channel here.
*The advice given by Barrett Campbell is given as a guide, in line with current information but we encourage you to speak to your accountant as all businesses have their own specific needs and situations.
We hope that you have found this information helpful! But we are not done yet...
Here are some links for further courses and access for businesses operating within NSW and the links to register to access the Business Connect program which enables completely subsidised business advisory support.
First up...Nat Ellis, a highly experienced and skilled Business Advisor is running some NDIS focused webinars over the coming weeks.
Sustainable Business Development for the Disability Sector seminars
The program is as follows: April 22 - An initial longer session (12:30pm to 2:00pm) for introductions and goals for the next 6 months
April 29 - Business Opportunity Analysis, using a tried-and-tested SWOT Analysis tool (Strengths, Weaknesses, Opportunities & Threats - never fails to offer insights!)
May 6 - Strategic Planning, using a funky tool called the Strategy Canvas
May 13 - Refocus on your Business Model - review or start your Business Model Canvas
May 20 - Improve your Value Propositions 1 - Focus on your Customer's Jobs, Pains & Gains (because they are, and they want you to too!)
May 27 - Improve your Value Propositions 2 - Delight your customers! Help them rave about you!
June 3 - Improve your marketing and sales funnels – aka: Find and keep more customers!
June 10 - Forecasting your revenue and expenses for the next financial year (I'll make it fun, I promise!)
June 17 - Cashflow made easy, with a super-duper Cashflow Canvas! (developed by the ATO.....seriously!)
June 24 - Final seminar topic will be based on participant requests - to be confirmed
Registration Link here
The seminars are FREE to attend through Business Connect. Each seminar you attend will be registered as one hour against your Business Connect hours (which are unlimited at the moment). Attend one or all ten!
Seminars run from 12:30pm – 1:30pm on Wednesdays (bring lunch 😊)
This is a great opportunity to connect and network online with other small disability-sector business owners – to find support from those offering similar services, and referral options from those with complementary services. All the sessions help businesses owners to look at their current and future business circumstances.
You can register to meet (online) with a business advisor with Business Connect by following this link.
If you would like to talk to us directly contact us at The Business Centre by calling 02 4925 7700 or email us at email@example.com
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