Extension of time to enrol for the JobKeeper schemeThe Australian Commissioner of Taxation has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020.
If you enrol by 31 May you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes having paid your employees by the appropriate date for each fortnight.
For the first two fortnights (30 March – 12 April, 13 April – 26 April), the ATO will accept the minimum $1,500 payment for each fortnight has been paid by you even if it has been paid late, provided it is paid by you by the end of April.
You can enrol and claim for JobKeeper earlier if you choose. For example, you can enrol by the end of April to claim JobKeeper payments for the two fortnights in April.

​Source ATO

ATO announces extension for wage payments

The ATO has just announced that it has extended the time in which employers need to pay employees for JobKeeper fortnights 1 and 2 until 8 May 2020.
One of the key requirements of the JobKeeper Scheme is that employers must first pay their employees before they can apply to receive JobKeeper Payments.
Originally, a concession was available that allowed employers to make the payments for JobKeeper fortnights 1 and 2 by 26 April 2020 (being the end of fortnight 2). The ATO then extended this to 30 April 2020.
However, under this new announcement, a further extension has been granted until 8 May 2020 providing employers with additional time to ensure they have paid each eligible employee $3,000 for JobKeeper fortnights 1 and 2.
As a warning, employers must be aware that, despite the fact they can now pay their employees as late as 8 May 2020 and still be eligible for JobKeeper Payments for fortnights 1 and 2, they are still required to pay their employees a further $1,500 by 10 May 2020 in relation JobKeeper fortnight 3 (which ends on the same date). At
the current time, no extension to this date has been
announced, and it would be unwise for employers to anticipate that there will be one. Reference can also be made to the following:

ATO website
https://www.ato.gov.au/general/JobKeeper-Payment/

Assistant Treasurer’s media release
https://ministers.treasury.gov.au/ministers/michael-sukkar-2019/media-releases/jobkeeper-
payment-extension-help-business-cashflow-0

Source NTAA

One of the main concerns for employers wanting to enrol for the JobKeeper Scheme is that they have to make the $1,500 payments to employees before they are eligible to receive the JobKeeper Payment.  For many employers, this is simply impossible.
Yesterday, the Treasurer (Josh Frydenberg) spoke with the ‘Big 4’ banks and they have agreed to establish dedicated Hotlines for employers to call in relation to accessing bridging finance.
Those Hotline numbers are: 
Westpac - 1300 731 073
NAB - 1800 562 533 (1800 JOBKEEPER)
CBA - 13 26 07
ANZ -  1800 571 123

​Source NTAA

If you have been financially affected by COVID-19, you may be able to access some of your superannuation early.
Eligible citizens and permanent residents of Australia or New Zealand can apply for up to $10,000 in 2019–20 and up to a further $10,000 in 2020–21.
Eligible temporary residents are able to apply once to access up to $10,000 of super in 2019–20.
Applications can be submitted online through myGov:

• until 30 June 2020 for the 2019–20 year
• between 1 July 2020 and 24 September 2020, for the 2020–21 year.

You will not need to pay tax on amounts released and will not need to include these amounts in your tax return.
On this page:

• Eligibility
• Implications of accessing your super early
• Before you apply
• Submit an application
• After you apply
• Be aware of scams and schemes
• Need support

EligibilityEligibility:

• Citizens and permanent residents of Australia and New Zealand
• Temporary residents
• Assessing your eligibility

Citizens and permanent residents of Australia and New ZealandTo be eligible for early release of super, a citizen or permanent resident of Australia and New Zealand must be in one of the following circumstances:

• You are unemployed.
• You are eligible to receive one of the following  
  • jobseeker payment
  • youth allowance for jobseekers (unless you are undertaking full-time study or are a new apprentice)
  • parenting payment (which includes the single and partnered payments)
  • special benefit
  • farm household allowance.
• On or after 1 January 2020 either  
  • you were made redundant
  • your working hours were reduced by 20% or more (including to zero)
  • you were a sole trader and your business was suspended or there was a reduction in turnover of 20% or more.

Temporary residentsTo be eligible for early release of super, temporary residents must be in one of the following circumstances:

• You hold a student visa that you have held for 12 months or more and you are unable to meet immediate living expenses.
• You are a temporary skilled work visa holder, your working hours have reduced to zero and you remain engaged with your employer.
• You are a temporary resident visa holder (excluding student or skilled worker visas) and you cannot meet immediate living expenses.

Assessing your eligibilityYou do not need to attach evidence to support your application. However, you should keep records and documents to confirm your eligibility as we may ask you for this information.
It is important that you assess your eligibility accurately. We are administering this measure on behalf of all Australians and will manage the eligibility criteria with strict guidelines to ensure we can support those financially affected by COVID-19. There are penalties for making false and misleading statements.
You can't access your super early for a dependant. If your dependant is financially affected by COVD-19, they must apply themselves.
You can only submit one application for COVID-19 early release of super per financial year. You are still able to apply for COVID-19 early release of super if you have previously accessed your super early in other circumstances.
Implications of accessing your super earlyAccessing your super early will affect your super balance and may affect your future retirement income.
Withdrawing superannuation may also affect your:

• income protection insurance
• life / total permanent disability insurance cover.

Insurance may not be available on accounts that:

• are fully withdrawn
• have a balance below $6,000
• are inactive low balance accounts.

You should consider whether you need to seek financial advice before submitting your application for early release of super. Services Australia’s Financial Information Service OfficersExternal Link can give you free, confidential financial information.
See also:

• Keeping track of your super
• Inactive low balance super accounts
• COVID-19 accessing your superExternal Link – MoneySmart

Before you applyBefore you start the application process, you should:

• set up your myGov accountExternal Link and link it to the ATO
• have your Australian bank account information available – you will need this to complete your application and only Australian bank accounts are accepted
• check your super balance – your actual account balance may be higher or lower than that shown in ATO Online or in the early release application form.

There are four ways you can check your super balance:

• Check your total superannuation balance in ATO online services. There will be an 'as at' or 'effective' date for the balance. In a lot of cases, it will be 30 June 2019 as funds are only required to report to us once a year. This means your account balance may have changed since it was last reported to us, and may be higher or lower than shown on ATO online or in the early release application form.
• If you have access to your super fund's online member portal, you can log on and check your current account balance there. It might be a good time to establish a login to your fund portal if you haven’t already.
• Check the last statement that your fund issued to you. This might be by paper or email.
• Call your fund, but understand that they have had a large increase in members calling and there could be delays in having your call answered.

See also:

• Online services to create a myGov account and link it to the ATO.
• Keeping track of your super to check your super balances.

Submit an applicationApplications for early release of superannuation are accepted through ATO online services via myGov.
You can only submit one application for COVD-19 early release of super in each financial year:

• 2019–20, between 20 April and 30 June 2020
• 2020–21, between 1 July and 24 September 2020 (Australian and New Zealand citizens and permanent residents only).

This is even if the total amount you request to be released, or the actual amount released by your fund, is less than $10,000. For example, if you request $8,000, you cannot make another application to request the additional $2,000.
The application form on myGov will display all your superannuation accounts, as reported to us by your funds. You can request the release of your super from up to five super accounts. For example, if you want to receive a total of $10,000 you can request $5,000 from one fund and a second $5,000 from another fund. This must be done within one application form.
Current super balanceWe encourage you to check your fund's online portal to confirm your current accurate balance. Your current super balance may be lower or higher than what is shown in the application form. The amount shown in the form is the amount last reported to us and your fund does not need to report your current balance to us.
You can apply for an amount higher than the balance shown in the application form (up to $10,000), provided your current balance is sufficient. This includes if a 'nil' amount is showing in the application form. For example, if you've confirmed your fund balance is $8,000, but the amount showing in ATO Online is $0.00 you can still apply for a release up to $8,000.
If you apply for an amount greater than your current balance, your fund will release the amount currently available (up to $10,000). For example, if you request $8,000, but your current balance is only $7500 your fund will release $7500.
Application tipsYou can only submit one application for COVID-19 early release of super per financial year. To make the application process as smooth as possible, please check the following information is correct before you submit your application:

• The amount you request. You should check your current balance through your fund’s online portal to ensure your request is based on the latest available balance.
• Your Australian bank account details. Only Australian bank accounts are accepted.

You can't access your super early for a dependant. If your dependant is financially affected by COVD-19, they must apply themselves.
An application can't be withdrawn or cancelled once it has been submitted. If you no longer want the release of your super, you will need to contact your fund.
Next step:

• Apply nowExternal Link

After you applyIt will take us up to four business days to process your application and send you a letter of approval or rejection to your myGov Inbox.
Once your application is approved you do not need to contact us or your fund. Your fund will make the payment to you without you needing to apply to them directly. The Australian Prudential Regulation Authority (APRA) have issued guidance to super funds and expect payment to be made to members within five business days. However, this time may increase where funds need to contact you to clarify information. More information can be found on APRA's websiteExternal Link. 
If your fund is a SMSF, you will need to let them know that you have received the determination so they can make the payment to you.
Be aware of scams and schemesEarly access of your super is a free government service to help and support you during the impacts of COVID-19. Be aware of scams and schemes asking you to pay to release your super.
We’re concerned about scams or schemes where people:

• impersonate the ATO, or a trusted organisation like your super fund, to steal your money or personal identifying information
• approach you and charge you for services that are free, like gaining early access to your superannuation.

If you receive a phone call, text message or email offering to help you release your super early, do not:

• provide your personal information
• click on any links
• share your myGov login details.

You can phone us on 1800 008 540 to confirm if a contact you received is genuine.

Source : ATO

Key dates

• From 20 April: enrol for JobKeeper payment.
• By 30 April: enrol and pay your employees to claim JobKeeper payments for April.
• 4 May onwards: identify your employees.
• Each month: reconfirm eligibility.
• If you need more time, you have until the end of May to enrol and identify your employees.

Source : ATO

JobKeeper payments - Everything you need to know now!
Businesses, charities and not for profit entities impacted by the Coronavirus can access the Government’s JobKeeper Payments subsidy to continue paying their employees.

The key points include:

• A JobKeeper allowance of $1,500 per fortnight (which is a flat payment per employee).
• Every employee/individual is only able to receive one payment from one employer, their primary employer.
• The payments are backdated to 30 March, but paid by the ATO from 1 May onwards. The payments are made monthly in arrears.
• Business turnover has to have fallen by 30% to be eligible. For the largest firms, it has to be a 50% drop. Turnover is defined according to the current calculation for GST purposes and is reported on Business Activity Statements.

Available to:

1. Full and part-time workers,
2. Sole traders who had an ABN before 12 March 2020 and are actively engaged in the business,
3. Casuals who have been with their employer for 12 months or more.
4. Any employee who has been stood down since 1 March will still be eligible for the payment.
5. One partner in a partnership,
6. One individual beneficiary in a trust,
7. One company director in a company,
8. One shareholder of a company who receives dividend income.

To receive the JobKeeper payment, employers must:

• Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline.
• Provide information to the ATO on eligible employees. This includes information on the number of eligible employees engaged as at 1 March 2020 and those currently employed by the business (including those stood down or rehired). For most businesses, the ATO will use Single Touch Payroll data to pre-populate the employee details for the business.
• Ensure that each eligible employee receives at least $1,500 per fortnight (before tax). For employees that were already receiving this amount from the employer, then their income will not change. For employees that have been receiving less than this amount, the employer will need to top up the payment to the employee up to $1,500, before tax. And for those employees earning more than this amount, the employer can provide them with a top-up.
• Notify all eligible employees that they are receiving the JobKeeper Payment.
• Continue to provide information to the ATO every month, including the number of eligible employees employed by the business.

The Australian Taxation Office (ATO) is announcing special arrangements this year due to COVID-19 to make it easier for people to claim deductions for working from home.
The new arrangement will allow people to claim a rate of 80 cents per hour for all their running expenses, rather than needing to calculate costs for specific running expenses.
Multiple people living in the same house can claim this new rate. For example, a couple living together could each individually claim the 80 cents per hour rate. The requirement to have a dedicated work from home area has also been removed.

Working from home claims for 1 March to 30 JuneThere are three ways that you can choose to calculate your additional running expenses for the 1 March – 30 June period:

• claim a rate of 80 cents per work hour for all additional running expenses.
• claim a rate of 52 cents per work hour for heating, cooling, lighting, cleaning and the decline in value of office furniture, plus calculate the work-related portion of your phone and internet expenses, computer consumables, stationery and the decline in value of a computer, laptop or similar device
• claim the actual work-related portion of all your running expenses, which you need to calculate on a reasonable basis.

The ATO is also reminding people that the three golden rules for deductions still apply. Taxpayers must have spent the money themselves and not have been reimbursed, the claim must be directly related to earning income, and there must be a record to substantiate the claim

To claim a deduction for working from home, all of the following must apply:

• You must have spent the money.
• The expense must be directly related to earning your income.
• You must have a record to prove it.

This means you cannot claim a deduction for items provided by your employer or if you have been reimbursed for the expense.

Expenses you can claim
If you work from home, you will be able to claim a deduction for the additional running expenses you incur. These include:

• electricity expenses associated with heating, cooling and lighting the area from which you are working and running items you are using for work
• cleaning costs for a dedicated work area
• phone and internet expenses
• computer consumables (for example, printer paper and ink) and stationery
• home office equipment, including computers, printers, phones, furniture and furnishings - you can claim either the:
  • full cost of items up to $300
  • decline in value for items over $300.

Expenses you can’t claimIf you are working from home only due to COVID-19, you:

• cannot claim occupancy expenses such as mortgage interest, rent and rates
• cannot claim the cost of coffee, tea, milk and other general household items your employer may otherwise have provided you with at work.

Shortcut methodYou can claim a deduction of 80 cents for each hour you work from home due to COVID-19 as long as you are:

• working from home to fulfil your employment duties and not just carrying out minimal tasks such as occasionally checking emails or taking calls,
• incurring additional deductible running expenses as a result of working from home.

You do not have to have a separate or dedicated area of your home set aside for working, such as a private study.
The shortcut method rate covers all deductible running expenses, including:

• electricity for lighting, cooling or heating and running electronic items used for work (for example your computer), and gas heating expenses
• the decline in value and repair of capital items, such as home office furniture and furnishings
• cleaning expenses
• your phone costs, including the decline in value of the handset
• your internet costs
• computer consumables, such as printer ink
• stationery
• the decline in value of a computer, laptop or similar device.

You do not have to incur all of these expenses, but you must have incurred additional expenses in some of those categories as a result of working from home due to COVID-19.
If you use the shortcut method to claim a deduction for your additional running expenses, you cannot claim a further deduction for any of the expenses listed above.
You must keep a record of the number of hours you have worked from home as a result of COVID-19. Examples are timesheets, diary notes or rosters.
If you use the shortcut method to claim a deduction and you lodge your 2019-20 tax return through myGov or a tax agent, you must include the note ‘COVID-hourly rate’ in your tax return.
Records you must keepIf you use the shortcut method, you only need to keep a record of the hours you worked at home, for example timesheets or diary notes.
If you use the other methods, you must also keep a record of the number of hours you worked from home along with records of your expenses

Complimentary of the Australian Tax office as at 08/04/2020=
More informationFor more information, visit ato.gov.au/home or speak to us

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