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JobKeeper payment extension granted to assist with cash flow

The Australian Small Business and Family Enterprise Ombudsman Kate Carnell says small businesses have been given an extension to pay their employees under the JobKeeper program.

Small businesses that had concerns about paying their staff the $1,500 fortnightly JobKeeper payment for the first month prior to payments flowing in early May, now have until 8 May 2020 to ensure those payments have been made to their eligible employees.

“This will come as a welcome relief for small businesses struggling with cash flow,” Ms Carnell says.

“Small businesses now have extra time to deal with cash flow pressures as a result of any delays with their financial arrangements.

“It’s especially critical now that those small businesses that had chosen not to apply for JobKeeper because they were worried they couldn’t pay their staff by April 30, do so now.

“The big four banks have established JobKeeper help lines that are dedicated to ensuring small businesses have the funding they need to pay their staff. They are promising to fast-track these applications.

“There are also some fintechs that have released products to help small businesses with cash flow.

“For those small businesses struggling to pay their rent, remember you are only covered by the Mandatory Commercial Tenancy Code of Conduct if you are eligible for JobKeeper, so this could be essential to your business’ survival.”

Businesses have until 31 May 2020 to formally enrol to claim JobKeeper payments.

However, the sooner an employer pays their staff for April and enrols, the sooner the ATO can reimburse them the JobKeeper payments.

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