The Australian Taxation Office (ATO) announced late yesterday they have given eligible businesses extra time to pay staff the $1,500 a fortnight JobKeeper payment to help those struggling with cash flow issues during the first month. These businesses now have until 8 May to pay staff the first two tranches of payments worth $3,000 for the first four weeks of the JobKeeper scheme.
The ATO has advised that for the two fortnights (i.e. 30 March → 12 April and 13 April → 26 April), they will accept the minimum $1,500 payment for each fortnight has been paid even if it has been paid late, provided it is paid by Friday 8 May. This means that employers can make two fortnightly payments of at least $1,500 per fortnight by 8 May, or a combined payment of at least $3,000.
If an employer needs more time to enrol, they can do so by the end of May.
This move is aimed to give businesses more time to consider their financial circumstances and reduce cash-flow pressures before signing up.
More information can be found here.
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