Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s updates and some ideas that will help us all overcome this crisis.

Can The JobMaker Hiring Credit Help Your Business?

The JobMaker Hiring Credit could mean that your business will receive payments for new positions you create.

Eligible employers will receive payments of up to:

• $200 a week – for each eligible employee aged 16 to 29 years old
• $100 a week – for each eligible employee aged 30 to 35 years old.

To be eligible, your business must meet criteria including:

• holding an Australian Business Number (ABN)
• being registered for Pay As You Go (PAYG) Withholding
• reporting through Single Touch Payroll
• being up to date with income tax and GST lodgement obligations
• not falling into any of the exclusion categories.

You can register for the JobMaker Hiring Credit using ATO online services or the Business portal or contact us so we can help you with your application.

JobKeeper Payment Extension Starts Soon

The second JobKeeper Payment extension starts from Monday 4 January 2021.

It means:

• if you are eligible for JobKeeper extension 2 you will need to complete a new decline in turnover test
• the payment rates for your eligible employees will change
• if you are new to JobKeeper you can enroll in the program to participate in the remaining fortnights.

For JobKeeper fortnight 20 (Monday 21 December 2020 to Sunday 3 January 2021):

• You will have until the end of Monday 4 January 2021 to pay your employees (meet the wage condition).
• Business monthly declarations for JobKeeper fortnights 18, 19 and 20 are now due 28 January 2021.

For JobKeeper fortnights 21 and 22 (starting Monday 4 January 2021 and Monday 18 January 2021):

• You will have until Sunday 31 January 2021 to meet the wage condition for your eligible employees.

Key Dates

21 December 2020

• November Monthly BAS is due – You need to lodge and pay your November 2020 monthly BAS. If you will have difficulty paying, still lodge the BAS and contact us to assist with the ATO to work out a payment plan.
• JobKeeper fortnight 20 starts.

Government-backed COVID-19 Loans Extended

The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, do not hesitate to give us a call.

Get in touch

If you have any questions or would like some assistance get in touch with one of the team here at Cadenze Partners.