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PKF Tasmania

Chartered Accountants and Business Advisors

PKF Tasmania Blog

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Deadlines for the JobKeeper Second Extension Period.

What is the second extension?

The second JobKeeper extension will begin from 4 January 2021 and last until 28 March 2021.

There will be a change to payment rates with tier 1 reducing to $1,000 per fortnight and tier 2 reducing to $650 per fortnight.

 

What do you need to do?

New and existing participants must submit a new decline in turnover form by 31 January 2021. This requires the business to demonstrate actual GST turnover for the December quarter has declined by 30%.

The complexities arise when there are several different quarters against which this decline can be measured.

PKF Tasmania can help you identify the turnover test which is right for your business and submit this decline in turnover form. For assistance, contact [email protected]

 

What deadlines have changed?

The ATO has extended the payments deadline for the fortnights ending 3 January 2021 and 17 January 2021. The deadlines have been extended to 4 January 2021 and 31 January 2021, respectively.

 

Key Dates

 

4 January 2021

The second extension of JobKeeper begins.

 

 

Employers must have met the wage conditions for payments for the fortnight ending 3 January.

 

New decline in turnover form released.

 

28 January 2021

December monthly business declaration is due for payments between 23 November to 3 January.

 

 

31 January 2021

Decline in turnover form for the December quarter is due.

 

 

Employers must have met the wage conditions for fortnights ending 17 January and 31 January.

 

 

If you are unsure of your eligibility, or just need help to understand the second extension, contact [email protected]

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