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The government released the 3rd stimulus package yesterday which entitles businesses without employees to register for the Jobkeeper Payment if their turnover has or will reduce by more than 30% relative to the same period of at least one month, a year ago. 

Below is some detail relating to non-employee businesses.

The business is paid $1 500 per fortnight per employee to be paid to each employee.

Businesses without employees, can register their interest in applying for JobKeeper Payment via The Australian Taxation Office (ATO) from 30 March 2020.

They will need to provide an ABN for their business, nominate an individual to receive the payment and provide that individual’s Tax File Number and provide a declaration as to recent business activity.

They will need to provide a monthly update to the ATO to declare their continued eligibility for the payments. Payment will be made monthly to the individual’s bank account.

At this point in time all you can do is register at the link below:

https://www.ato.gov.au/general/gen/JobKeeper-payment/

I suspect that when this becomes law, further information will be released.

Should you have any questions please contact me at questions@accoladeaccounting.com.au