So JobKeeper has ended (although businesses will still receive their March Payment in the first few days of April) what is next? No there is no replacement subsidy, for now at least this is the end of the ATO based Covid hand outs.
There are still a couple of things of interest for business owners;
- JobMaker – a subsidy for new hires. Please talk to us if you would like to know more, so far this scheme has not been popular for clients.
- Apprentice and Trainee subsidy – this one has been popular and is till running so if you have a trainee or apprentice or just want to know more then please get in touch.
Apart from that you really need to asses if you needed JobKeeper if so what now? Can you grow your business or re-structure in some way to make it profitable? Perhaps you need to consider closing your business and starting a new one or even getting a job? I know these sorts of thoughts and discussions can be un comfortable but in my experience the sooner you have them the better. If you need a second opinion or someone to brainstorm ideas please get in touch.
Please remember that JobKeeper is assessable income (in the hands of employees and business) so you will need to include these JobKeeper payments on your 2021 Income Tax Return.