Crowley Calvert & Holmes Pty Ltd: Getting EOFY ready

Gold Member, Crowley Calvert & Holmes Pty Ltd, advice for the coming EOFY.

Southern Gold Coast Chamber of Commerce Gold Member, Crowley Calvert & Holmes Pty Ltd, is offering friendly and accessible advice for local business. Check out below for their latest update:

JobKeeper declaration due 14 June:

Businesses that have enrolled in the JobKeeper Scheme and identified their eligible employees are reminded that they will need to make a monthly declaration to the ATO to ensure they continue to receive JobKeeper payments.

The monthly declaration must be made by the 14th day of each month to claim JobKeeper payments for the previous month.

As part of the declaration, businesses will need to:

ensure they have paid their eligible employees at least $1,500 (before tax) in each JobKeeper fortnight they are claiming for;
re-confirm their eligible employees, including notifying if an eligible employee has changed or left employment; and
provide the current and projected GST turnover of the business – note, this is not a retest of the eligibility of the business.

For example, to claim JobKeeper payments for the May 2020 JobKeeper fortnights, businesses must report their GST turnover for the month of May 2020 as well as their projected GST turnover for the month of June 2020 by 14 June 2020.

The monthly declaration can be lodged through the ATO business portal or through STP-enabled software. Alternatively, tax agents can assist clients by lodging the monthly declaration on behalf of registered clients.

Editor: Please contact the Crowley Calvert & Holmes team if you require assistance with making the JobKeeper declaration.

ATO reminder for employers - Finalise STP data for 2020

The ATO has issued a reminder to employers who report through Single Touch Payroll (‘STP’) – which should be all employers, unless an exemption or deferral applies – that they will need to finalise payroll information for the 2020 income year by making a declaration.

The due date for making finalisation declarations is:

14 July 2020 for employers with 20 or more employees; and
31 July 2020 for employers with 19 or fewer employees.

Employers that finalise through STP are not required to provide payment summaries to employees and lodge a payment summary annual report to the ATO.

Instead, employees will be able to access their payroll information (for preparation of their 2020 tax return) through a registered tax agent or via ATO online services.

Members are encouraged to contact Crowley Calvert & Holmes Pty Ltd for expert advice and gain access to their EOFY PRACTICE UPDATE & 2019/2020 TAX CHECKLISTS. Check out their website for me, here.

6 Jun 2020 9:40 AM

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