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Extension of financial assistance relating to COVID-19 T he Federal Government has extended both the JobKeeper and JobSeeker schemes for an additional six months. Adjustments have been made to eligibility criteria and stepped reductions will be made to both payments from September 2020. The JobKeeper payment will also be split into two payment tiers based on the employee’s average working hours in February 2020. The Government also announced an extension of the Early Release of Superannuation scheme. Fund members will now have until 31 December 2020 to access up to $10,000 from their super to help themmeet their financial obligations during the uncertainty of the COVID-19 pandemic. If your staff are experiencing loss of income as part of COVID-19, they may be eligible for the JobKeeper payment and may be able to access some of their super as part of the early release scheme. More information is available at hostplus.com.au/covid19/employers.
Amnesty on super payments for employers On 6 March 2020, the Federal Government introduced a Super Guarantee (SG) amnesty. The amnesty allows employers to disclose and pay previously unpaid Super Guarantee Charges (SGC). As many businesses return to more traditional operating models, reopening closed doors and welcoming in-store patrons and customers, your staff may begin transitioning back to a more familiar pay cycle. This includes a return to regular super contributions. If you have outstanding SG payments from past periods, the SG amnesty remains in effect until 7 September 2020 and allows businesses to make any outstanding SG payments without the additional concern of penalties or fines. Outstanding payments made after the amnesty period ends may attract extra charges and costs. You can learn more about the SG amnesty by visiting the ATO website. ato.gov.au/business/super-for-employers/superannuation- guarantee-amnesty/
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Hostplus.We gowithyou. Issued byHost-Plus Pty Limited ABN79 008 634 704, AFSL 244392 as trustee for theHostplus Superannuation Fund (the Fund) ABN68 657 495 890, MySuper No 68 657 495 890 198. This information is general advice only and does not take into account your personal objectives, financial situation or needs. You should consider if this information is appropriate for you in light of your circumstances before acting on it. Please read the relevant Hostplus Product Disclosure Statement (PDS), available at www.hostplus.com. au beforemaking a decision about Hostplus. Past performance is not a reliable indicator of future performance and should never be the sole factor consideredwhen selecting a superannuation fund. INH1217 0720
THA HOSPITALITY—REVIEW: SEPTEMBER 2020 | 44
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