This information is for all those who have applied for JobKeeper. It is time for them to check whether you are eligible for this scheme any more.
A business participant is eligible for this scheme if he is not employed in your business but is active in one of your business’s operation. He might be a person who can manage the sales of your business or he has a say in making the strategy for your business.
Here are all the details of the business participants who is eligible for JobKeeper:
- He should be a non-bankrupt sole trader.
- He should be a shareholder in a firm or a director of a company.
- He should be a partner in a partnership.
- He should be an adult beneficiary but not a trustee.
And you have to keep in mind that the individual who has been engaged in the business from March 1, 2020, and he should also be active in the fortnight for which the Jobkeeper payment is being claimed. There were some changes introduced in the JobKeeper on July 20, 2020. As per those changes those who are active in child care services can’t claim JobKeeper payments for business participants.
Here are some key points to remember about this scheme:
- If you have several persons in your company who meet the criteria of JobKeeper, only one person from your business is eligible for this scheme.
- In case you have nominated one person from your business for this scheme, even if he leaves your business, you can’t nominate someone else who is working for your business.
- You can nominate someone as an eligible employee or an eligible business participant but not both.
- Only an individual can be eligible for this scheme.
In this blog, we try to provide all the essential information about accounting and taxation. You can visit our official website for more information.