Jobkeeper – Sole Traders and other Entities

As you may be aware, Monday 20th April the ATO is accepting applications for the Jobkeeper program.

As this will be the first time I have had to apply for the program for my clients it is a learning curve for me too, please be patient as I work out the intricacies.

Sole traders, partnerships, trusts and companies may be entitled to the Jobkeeper payment.

Only one participant can claim the $1500 per entity, the entity may also be entitled to claim the Jobkeeper payment for its employees.

To be eligible:

• You are an individual not employed by your entity
• Actively engaged in your business as at 1st March 2020
• are one of the following:
  • A sole trader,
  • a partner,
  • an adult beneficiary of the trust
  • a shareholder or director in the company.
• As at 1st March 2020, your are both
  • Aged 16
  • an Australian resident (within the meaning of section 7 of the Social Security Act 1991), or a resident for income tax purposes and the holder of a special category (Subclass 444) visa.
• are not receiving parental leave pay, dad and partner pay
• are not receiving a workers compensation payment
• are not an employee, other than casual for another entity
• have given you a JobKeeper nomination notice, and not given another entity a JobKeeper nomination notice.

Eligible business entities

The entity is eligible if:

• 30% decrease in turnover for March 2020 or an expected 30% decrease in turnover for April 2020 or the April May June quarter.
• on March 1st 2020 you were carrying on a business in Australia.
• as of the 12th March you had”
  • an ABN and it had lodged, on or before 12 March 2020, at least one of
    • a 2018–19 income tax return showing that it had an amount included in its assessable income in relation to it carrying on a business
    •  Or, an activity statement or GST return for any tax period that started after 1 July 2018 and ended before 12 March 2020 showing that it made a taxable, GST-free or input-taxed sale
    • Note: A discretion to give further time after 12 March 2020 may apply in limited circumstances. More information will be available soon.