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JobKeeper Audits Posted on December 8, 2020
The Australian Tax Office (ATO) has continued with their company audit regime throughout COVID, now with increasing focus on JobKeeper reviews.
Employers have been required to provide further record of employee details, contracts and payroll, as well as business activity to ensure the details align with the JobKeeper applications and historic BAS and STP records.
24,000 businesses have been placed in ‘suppression’, which means their application is held up pending further evidence.
It is the ATO’s aim to weed out fraudulent arrangements.
It is more important than ever to keep water-tight records, have an accountant ensure eligibility and compliance, and insure against professional fees associated with audit activity.