It’s been a year since the ATO introduced JobKeeper in response to the global COVID-19 pandemic. Importantly, the aim of the monthly payments was to keep Australians in jobs and support businesses.
So began JobKeeper payments from March 2020 until March 2021. What did the introduction of JobKeeper look like for CVW Accounting and our clients?
Meanwhile in the CVW Accounting office
In March 2020 the CVW Accounting team identified clients who would potentially qualify for JobKeeper payments. Then the appropriate paperwork and information was gathered and submitted on behalf of clients.
Due to the nature of JobKeeper we were engaged on a monthly basis by clients, said Managing Director Stephen Vining.
“We prepared and submitted a monthly declaration to the ATO at the end of each month,” Stephen stated.
“This involved liaising with clients about monthly turnover, projected turnover and sales turnover in the previous years to gain a comparison.
“We also carried out monthly checks on eligible employees and business participants.
“When the payment reductions were introduced in early 2021 the number of eligible clients reduced by about half.
“To be honest JobKeeper turned out to be a busy time for us. Of course, we were happy to provide the service for clients but are also glad to see the end of the influx.”
On behalf of the CVW Accounting team we thank our clients for their trust, patience and support through the uncertainty created by COVID-19.
For clients or anyone needing accounting services and support to move forward after covid-19, please touch base – contact us.
The impact on WA business
The Chamber of Commerce and Industry WA (CCIWA) developed an extensive survey to identify the impact of COVID-19 on WA business.
At this stage the survey is ongoing however a snapshot of results shows that impacts are multi-faceted and widespread.
Results include reduced consumer spending in retail, accommodation, real estate, and arts and recreation sectors. There have been wide-spread supply chain disruptions in health care, manufacturing, mining and retail. Skilled worker shortages have been felt in the health care, construction, manufacturing, mining and agriculture.
The results of this survey, which as mentioned is currently ongoing, will play an important role in influencing policy responses of government.
For more information contact CCIWA or visit https://cciwa.com