The third wave of the Stimulus Package – JobKeeper payment

Today our Prime Minister and Treasurer announced a third wave of their Stimulus package – the Jobkeeper payment, to assist both businesses and employers to get through the Coronavirus pandemic.

Let’s break it down based on whether you are a business owner (an employer) or employee.

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Completing TFN Declarations made easier

Employers are required to complete a TFN Declaration for all new employees. Once completed the form should be sent to the ATO within 14 days of the employee’s start date.

 

The ATO have developed a fillable TFN declaration form which is available at http://www.ato.gov.au/TFNdec

 

Rather than calling the ATO to order the form and wait for it to be mailed to you, you can now simply download it.  Even your new employee can download the form, fill it in on the screen and then send it to you to complete.  Once complete, print it out, have it signed, and send the original copy to the ATO using the address on the form.

 

The TFN Declaration can be filed through Xero without the need to mail it to the ATO, if you are using Xero to run your payroll.

 

Remember to keep a copy for your files.

 

Contact us if you need help