Coronavirus Update - Jobkeeper Allowance

JOBKEEPER UPDATE

TO JOCKEYS & APPRENTICES WHOSE EARNINGS ARE AT LEAST 30% LOWER IN MARCH &/OR APRIL 2020 COMPARED TO THE SAME PERIOD LAST YEAR.

You have until this Sunday 26th April to register your interest in applying for Jobkeeper with the Australian Govt. if you want it backdated to 30^th March

Either follow the two steps below or liaise with your accountant ASAP.

STEP ONE

TO APPLY FOR JOBKEEPER AS A “SOLE TRADER”, YOU WILL NEED TO MAKE YOUR APPLICATION THROUGH THE AUSTRALIAN TAXATION OFFICE (ATO).

When you do that, YOU WILL NEED TO BE ABLE TO PROVIDE YOUR AUSTRALIAN BUSINESS NUMBER (ABN). If you do not know your ABN, then click on the link below and type in your full name and your ABN should be listed. https://abr.business.gov.au/

Write it down so you have it with you.

In the unlikely event you do not have an ABN, it is very easy to apply for one online, just click on the link below:

https://www.abr.gov.au/business-super-funds-charities/applying-abn

So, now you have your ABN, the next step is to click on the link below and then click “Register Now for JobKeeper Updates”. Completing the form will take 5 minutes and then click the SUBMIT button.

https://www.ato.gov.au/general/gen/JobKeeper-payment/?=redirected_JobKeeper

STEP TWO

TO JOCKEYS & APPRENTICES WHO HAVE ALREADY REGISTERED FOR THE JOBKEEPER WAGE SUBSIDY

Earlier this week the Federal Government provided the next step for Sole Traders who have registered for the JobKeeper wage subsidy.

To progress your application you need to:

• Log in to your “MyGov” account and sign in using your username and password
• Click on “Your Services” where you should have (or be able to easily add) the ATO
• Once you have added the ATO, click on it and it will take you to the ATO site
• Click on COVID-19 “view”
• Scroll down to JobKeeper
• Follow the prompts and insert information eg: Bank Account details, etc and, one very important point, put in a “0” when it asked how many employees
• Then click “submit”
• You should get an automatic response confirming your request has been successfully lodged and it will provide an ATO receipt ID number which you should record and keep on file

At some stage, the Government will advise exactly what information is required to be supplied to the ATO in support of your application. We will pass that on as soon as it becomes available.

For your benefit the link to sole traders is: https://www.ato.gov.au/General/JobKeeper-Payment/In-detail/JobKeeper-guide---sole-traders/

If you are encountering difficulties, please contact your accountant or your financial advisor if you require assistance in completing this process which will see $1500 per fortnight paid to you as a Sole Traders (Jockeys) as long as you are eligible.

Remember, as a starting point, your income must have been impacted by 30% or more during this Coronavirus pandemic.