Essential ATO JobKeeper information for members (NNF 2020/202)

Following recent lengthy discussions and communications with the ATO and Taxation Professional Services firm HLB Mann Judd, IFCBAA is pleased to now provide Members with detailed guidance on how the ATO’s JobKeeper Extension 2 and 3 Payment Schemes that may be able to be applied to Member businesses, subject to the satisfaction of ATO criteria. 

Please click on the following link to access the separate sets of guidance from both the ATO and HLB Mann Judd, which should be viewed as the current information package in relation to this Payment Scheme:

When reading this advice, Members are encouraged to particularly take note of the following:
  • The ongoing treatment of Duty and GST disbursements cost charges to Member customers and Principal v Agent charges (by definition test), from a BAS perspective
  • The recognition of certain one-off factors that have effected Member business Revenue during the current COVID-10 crisis
  • Detailed definitions and related options in relation to the “Basic” and “Alternative Tests”

Members are advised that they should seek independent professional Taxation advice in relation to any potential claiming of these new JobKeeper Payment Schemes and that the information provided here and within the two enclosed information documents should be taken as a guide only and is subject to Member’s assessing this to their individual business situations.

The ATO has highlighted that there will be audit processes relating to the claiming of payments under this Payment Scheme, that those audits will continue for a lengthy period of time post completion of these Payment Schemes and that substantial penalties apply for any inaccurate or fraudulent JobKeeper and Cashflow Boost claims.

HLB Mann has stated their JobKeeper and BAS experts will avail themselves to Members for any specific advice that Members may request, for which Members would need to engage direct with HLB Mann Judd.

IFCBAA express it’s appreciation to the ATO and HLB Mann Judd for their engagement and assistance in this matter.

To read the ATO Exert of Advice to IFCBAA on JobKeeper Extension 2 and 3 Rebates Test Criteria

To read the IFCBAA JobKeeper Extension Article provided by HLB Mann Judd

Scott Carson
Commercial Manager