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Key dates and actions for employers

Source: [The Australian Chamber of Commerce and Industry]

The Federal Government’s JobKeeper scheme came to an end on 28 March 2021, meaning businesses are no longer entitled to receive JobKeeper payments for their eligible employees or utilise the temporary Fair Work Act JobKeeper provisions which gave employers certain flexibilities.

It is a critical time for employers and now is the time to be preparing for this change.

The following are some key actions to consider in preparation for the end of the JobKeeper payments and Fair Work Act JobKeeper provisions.

PREPARING FOR THE END OF JOBKEEPER PAYMENTS

  • Communicate with employees prior to the end of JobKeeper:

As the JobKeeper payment program ended on 28 March, employees’ wages will revert to their pre JobKeeper levels. It is recommended that employers should notify their employees of this, particularly where the amount received under JobKeeper may differ from the employee’s regular pay rate.

  • Submit your March monthly business declaration to the ATO:

Ensure your final monthly business declaration is completed and submitted to the ATO for March by 14 April 2021.

  • Consider other options for Government assistance:

Although the JobKeeper scheme will not be extended further, there may be additional assistance available to employers such as grants, hiring incentives and targeted support for particular sectors.

PREPARING FOR THE END OF JOBKEEPER ENABLING DIRECTIONS

  • Notify employees that the JobKeeper enabling direction will cease:

Any JobKeeper enabling direction, whether issued by an employer currently on JobKeeper or a Legacy Employer, will cease to have effect from the start of 29 March 2021. This means that employees will revert to their substantive terms and conditions of employment.

While the direction will automatically cease to apply, employers should communicate with their employees about the change.

  • Consider employment requirements post JobKeeper:

If your business is still experiencing the effects of the COVID-19 pandemic you should consider your employment requirements post JobKeeper. This includes whether employees can be stood down, whether other flexibilities may be permitted under an industrial instrument or by agreement, or whether any positions may be redundant.

WE’RE HERE TO HELP

Arthur Kyriacou & Co. can assist you to meet your employer obligations and requirements following the end of the JobKeeper program. If you and / or your business are still experiencing the effects of COVID-19 and would like some guidance or advice on the next steps, please contact us to arrange a time to discuss your individual circumstances and a suitable approach.

Please contact us on 03 9808 7377 or via email to discuss these matters further.

Disclaimer

This information is provided by Arthur Kyriacou & Co. for educational purposes. It does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. In deciding whether to acquire or continue to hold an investment, you should consider the relevant product guide or product disclosure statement.

We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

Arthur Kyriacou & Co. will not be liable for any losses arising from reliance on this information.

For any queries, please contact info@alkfinancialgroup.com.au