ATO monthly reporting

  • 2
  • Question
  • Updated 2 months ago
Is the monthly confirmation to the ATO that comes out on 4th May the same as making a monthly business declaration?
Photo of Jo Arnold

Jo Arnold

  • 894 Points 500 badge 2x thumb

Posted 2 months ago

  • 2
Photo of Eric Murphy

Eric Murphy

  • 1,466 Points 1k badge 2x thumb
I believe what is coming on May 4 is the ability to mark eligible employees for jobkeeper. What do you mean by 'monthly business declaration'?
Photo of Jo Arnold

Jo Arnold

  • 894 Points 500 badge 2x thumb
  • See extract below from a guidelines doc on the ATO website.

  • Step 3: Make a business monthly declaration

    Each month, you must reconfirm the eligibility of your business and your reported eligible employees.

    You must also provide information as to your current and projected GST turnover. This is not a retest of your eligibility, but rather an indication of how your business is progressing under the JobKeeper Payment scheme.

    You or your registered tax or BAS agent can make the business monthly declaration.

    Each month you must:

    • Ensure you have paid your eligible employees at least $1,500 per eligible employee per fortnight.
    • Log in to the Business Portal to  
      • review the number of eligible employees for each JobKeeper fortnight
      • update your eligible employees if any of your eligible employees change or leave your employment
      • provide your current and projected GST turnover
      • re-confirm your contact and bank details for payment.
       





    Photo of Jo Arnold

    Jo Arnold

    • 894 Points 500 badge 2x thumb
    This is a copy of the related page in the Reckon webinar notes - 

    MONTHLY REPORTING REQUIRED Notify ATO of Current GST Turnover for the Reporting Month Notify ATO of Projected GST Turnover for Following Month Within 7 Days of End of Cycle Reporting Month Information DOES NOT affect eligibility for JobKeeper  Not used for Verifying Decline in Turnover Test (this is only done once)  Payment from ATO 14 Days after Month End (i.e. 14 May for April)  Nominated Bank Account Purpose of Reporting is to provide good information to the Government to assess the economic impact of the Coronavirus on a monthly basis across Australia 
    Photo of Jo Arnold

    Jo Arnold

    • 894 Points 500 badge 2x thumb
    Am I correct in assuming that the above is all incorporated in the one reporting transaction through the ATO portal?

    Hi Jo

     

    Yes, that’s correct :)

     

    The monthly reporting is what will trigger the actual payment from the ATO so this step is the most important one:

     

    • If you have employees & are using STP, the employees’ details will prefill based on that.  Be patient as the reporting option has only become available from today so - depending on your STP lodgment dates – there may be a bit of a delay in the syncing of this data in which case you may need to manually enter their details .

     

    • If applicable, you will also need to confirm any Eligible Business Participant (EBP) for the entity who has been nominated to receive JK also.

     

    • You will need to confirm the entity’s financial institution details for payments to be received into

     

    • You will also need to enter your actual turnover amount for the downturn period as well as a predicted estimation for the next month.

                  

    NOTE: The 30% downturn only needs to be met for one period to be - & remain - eligible for JK. 

    The ongoing turnover reporting is purely statistical in order for the Govt to see how the economy is going during this period & is NOT in any way going to affect or impact on your ability to continue receiving your JK reimbursement payments.  

     

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    0422 886 003

    shazinoz2@bigpond.com

    www.accounted4bs.com

    Photo of Kristen

    Kristen

    • 152 Points 100 badge 2x thumb
    Sorry to jump on this post but can you please advise what report you actually run to show your gst turnover?  
    Photo of Diane W

    Diane W

    • 586 Points 500 badge 2x thumb
    Hi Kristen,

    We run on a cash basis, so I use the Tax Summary Report, modify the report, click on Advanced, change Tax Basis to Gross, and check the details by using the Tax Detail Report, and have no need to modify at all.

    I hope this helps.
    Photo of Jo Arnold

    Jo Arnold

    • 894 Points 500 badge 2x thumb
    Hi Kristen
    I used a Tax Summary Report.  If you do your own BAS it is the same report you would draw down for that.  Just need to change the dates for the appropriate month.

    Hope this helps.