News & Security Advice

ATO update: JobKeeper Payment and other support

The Government has passed legislation on the JobKeeper Payment. We want to share information with you and your networks about how businesses and individuals can access the available support.

Please get in touch if you have any questions, and also note that our dedicated webpage ato.gov.au/coronavirus will be kept up to date with support and services available.

WHAT EMPLOYERS NEED TO KNOW
JobKeeper:

Employers need to take steps now to be eligible and ready to receive the JobKeeper payment in May. Our website has all of the information employers need in the one spot; ato.gov.au/JobKeeper

Other resources you may find useful:

Cash Flow Boost:

From 28 April 2020, eligible businesses and not-for-profit organisations will receive a tax-free cash flow boost of between $20,000 and $100,000 through credits in the activity statement system when they lodge their activity statements up to the month or quarter of September 2020.

Full details about eligibility, timing and what you need to do are on our website at ato.gov.au/cashflowboost.

WHAT EMPLOYEES NEED TO KNOW

JobKeeper

Employees will need to meet eligibility criteria to access the JobKeeper payment from their employee. A breakdown of the requirements is on our website: ato.gov.au/JobKeeper

 Working from home expenses

The ATO announced special arrangements to make it easier for people to claim deductions for working from home this year. Details are available at ato.gov.au/workingfromhome

Additionally, The ATO has introduced a simplified method for claiming deductions for anyone working from home as a result of COVID-19.  Between 1 March and 30 June 2020, taxpayers will be able to claim 80 cents per work hour for all their additional running expenses, rather than needing to calculate costs for specific running expenses. This new method is designed to make tax returns simpler for anybody who has recently transitioned to working from home due to COVID-19, and ensures they are able to easily claim their relevant deductions. This information has been summarised into a Working from home media release.

Other resources you might find useful is the ATO working from home poster

 Early release of super

Eligible individuals will be able to apply for early access to their super from mid-to-late April 2020 through myGov. More information including eligibility requirements is available on our website: ato.gov.au/early-access