JobKeeper Extension of Time / NSW Land Tax Support Package
The ATO has extended time for enrolling and paying topup payments for Jobkeeper. NSW has now released additional State Government aid of up to 25% discount on land tax for 2020
ATO extends deadlines to enrol and "top up" for JobKeeper
If you are claiming JobKeeper from 30 March 2020 and have not met the minimum $1,500 payment for each fortnight, a TOP UP payment must be made to eligible employees by 8th May 2020 .
A TOP UP payment will be required if your eligible employee:
was paid LESS THAN $1,500 (before tax) during FORTNIGHT 1 (30 March – 12 April); and
was paid LESS THAN $1,500 (before tax) during FORTNIGHT 2 (13 April – 26 April).
The Commissioner has extended the time to enrol for the first two JobKeeper fortnights until 31 May 2020.
Should you not be eligible to claim for April, you may be eligible to start claiming for a later month, discuss your options with your accountant.
Registering your interest with the ATO is NOT the same as enrolling for JobKeeper.
Enrolling is an additional step which requires a "mygovID" and logging into the Business Portal.
JobKeeper enrolments must be done via the Business Portal or through your Tax Agent.
Information required to enroll includes the period of income decline, number of eligible employees and your bank details.
NSW state government introduces a land tax reduction to landlords of tenants in financial distress
Commercial tenants are considered to be in financial distress if they have a 30% drop in revenue due to COVID19
Residential tenants are considered to be in financial distress where there has been a 25% drop in household income due to COVID19.
Landlords will be eligible of up to a 25% reduction in land tax of effected rented premises
Landlords must have reduced the rent of the affected tenant by at least the amount of land tax reduction
The application process is still to be released, however the NSW State Government will require supporting documentation for any applications once it is available.
Other measures for land tax also announced include instalment plans and payment deadline extensions.
More information
Feel free to contact the office and arrange a phone meeting with our team on (02) 9529 4411.
