Eligible Business Participants

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Steve5
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Eligible Business Participants

I understand the process by which to input and therefore claim payments or topups for my staff. But as the employers my wife and myself are not included in the normal PAYG payrun including the STP. I have completed the Nomination Notice for Eligible Business Participants pertaining to my wife as she will be the one permitted participant. What happens next?  How is this then made known to the ATO. And how should this be input as income or money received in MYOB AccountRight. Thx for any help. Steve K

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AlanT
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Re: Eligible Business Participants

Hi @Steve5 

 

Once your wife has been entered on the ATO,s on-line services as an Eligible Business Participant, the ATO will include their subsidy in the monthly Jobkeeper payments.

 

Regards,

 

AlanT

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aidbrotey
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Re: Eligible Business Participants

my question to follow on from here is how do we record the business participant wage in myob- the ato wants to see all employees and business participants in the STP payroll information -so it matches up with their job keeper payments. How do i set this up for the director- who is not an employee and normally gets paid directors fees once a year.

AlanT
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Re: Eligible Business Participants

Hi @aidbrotey 

 

An Eligible Business Particpant is not an employee and is not be paid through the payroll.

 

When you enrol your business and nominate an eligible participant the government will be adding and extra $1,500 per fortnight to the Jobkeeper payment.  This will be treated as income in the business and may be distributed to the EBP using whatever method they normally use to take funds out of the business such as; drawings, directors or dividends etc.

 

Hope that helps,

 

AlanT

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Tax_Agent
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Re: Eligible Business Participants

 

Hi AlanT,

 

Does the requirement to pay a minimum of $1,500 per fortnight only apply to "employees" or do Eligible Business Participants (EBP) also have to receive $1,500 per fortnight as a minimum (as either drawings, director fees, dividends etc)?

AlanT
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Re: Eligible Business Participants

Hi @Tax_Agent 

 

There is no requirement to pay the JK subsidy to the eligible business participant immediately or in full.  They will effectively receive the funds eventually either as drawing, directors fees or dividends, however they would normally take funds from the business.

 

Regards,

 

AlanT

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Tax_Agent
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Re: Eligible Business Participants

Thanks AlanT

DTull
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Re: Eligible Business Participants

Hi @AlanT you previous post mentioned "Once your wife has been entered on the ATO's on-line services as an Eligible Business Participant"

 

Where in Online Services do we do this?

Thanks 

Steve5
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Re: Eligible Business Participants

Hi DTull. I might be able to answer that. I think the opportunity to do that does not come up until 4th May. If you go to ATO Business Portal and go to "Manage Employees" and then select the Jobkeeper link, it will show you that you are enrolled (assuming you've done that) and then there's reference to the 4th May. Check it out and also keep an eye on ATO updates to the Jobkeeper process. If I'm wrong I'm sure AlanT will correct me

DTull
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Re: Eligible Business Participants

Thanks @Steve5 but Im a real dunce... where in the portal is Manage Employees?

Cheers

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