Institute of Certified Bookkeepers

10am, 1st April, 2020

Self Employed or Sole Traders

Based on the recent updated advice from Treasury

It is not law yet!   It is extremely likely to become law.  The details may change

 

Businesses without employees, such as the self-employed, can register their interest in applying for JobKeeper Payment via ato.gov.au from 30 March 2020.

Register your interest Here

Businesses without employees will need to provide:

  • 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.

People who are self-employed 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.

Further details for the self-employed will be provided on ato.gov.au.

 

Await the Detailed system

Partners in business partnerships that are self employed, beneficiaries of trusts that are “self employed” and don’t formally pay a wage but are remunerated as a distribution would all appear applicable.  Await further detail

 

The administratio will be similar to Employers - Access the ICB Explanation

  • Updated: 1st April 2020
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