TaxRambling.com

Sorry to spam you with COVID-19 stuff but a fact sheet just came out from the Treasury on the JobKeeper payments and those self employed people who use structures (partnerships, trusts and companies) and it has some strange things… but good things about . In summary it says (see pages 10 and 11 of the factsheet if you want to read the source)…

• Self-employed individuals will be eligible to receive the JobKeeper Payment where they expect to suffer a 30% decline in turnover relative to a comparable a period a year ago of at least a month.
• The structure used by those who are self-employed does not stop them receiving this payment. The Government has confirmed:
  • If the business is a partnership, one partner can be nominated to receive a JobKeeper Payment along with any eligible employees.
  • Where beneficiaries of a trust only receive distributions, rather than being paid salary and wages for work done, one individual beneficiary can be nominated to receive the JobKeeper Payment.
  • An eligible business can nominate only one director to receive the payment, as well as any eligible employees.
  • An eligible business that pays shareholders that provide labour in the form of dividends will only be able to nominate one shareholder to receive the JobKeeper Payment.

So there may be lots of businesses that don’t pay salaries that you want to register for the JobKeeper payment…