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ATO Issues Law Companion Ruling and Practical Compliance Guidelines on new JobKeeper Payment Scheme for COVID-19

|Approved Changes|Australia
Australia

The Australian Taxation Office (ATO) has issued Law Companion Ruling (LCR) 2020/1 and Practical Compliance Guideline (PCG) 2020/4, which provided guidance for the new JobKeeper Payment scheme that was introduced to support businesses significantly affected by COVID-19. Depending on their fall in turnover, eligible businesses under the scheme are able to access a subsidy to continue paying their employees, which includes fortnightly payment of AUD 1500 per eligible employee until 27 Septemb…

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