Simply choose an employee and click Set Tier. Although it is fairly straight forward to enrol a business for JobKeeper and to use Xero to notify the ATO of eligible employees, it is very often not straight forward to determine if the business AND its employees are in fact eligible for JobKeeper or the JobKeeper Extension. Cannot recommend them enough regardless of whether you are a 1 or 100 strong business. Link team is very profession and friendly, Simon, was quick to respond and went beyond to help. Highly recommended, they are almost always available when you call for an enquiry and if not, they get back to you promptly. Keep up the good work! We would like to hear from you. Use your best efforts with the information at hand to estimate what you think the next month’s income will be. $1,200. Sole traders or small partnerships with sickness, injury or leave. is 5 stars. 9/21/20 3 … You are here: I only have positive things to say about Link Advisors. They are highly attentive to all of our questions, very easy to communicate with and get things done, James and the team at Link Advisors made the whole experience of starting my first business an absolute breeze! If you are wanting to access the first month of JobKeeper payments, then you will need to submit your enrolment application to the ATO via the Business Portal using your myGovID. It is also required that the turnover is not ‘cyclical’. First time to see this since April. Xero JobKeeper 2 JobKeeper 2.0 Payments from 28 Sept onwards 10am 21 Sept. 1 Todays Webinar-Fair Work-JobKeeper 2 Payment to employees Sept and beyond §JobKeeper 2.0-Fair Work 10% Decline-ATO wage Subsidy 30% decline 2. Have a preview of how we will enter the Tier information for each eligible employee. Enrol your business and employees for JobKeeper with the ATO via Xero; There’s a lot of moving parts, a bit of risk to determine eligibility and is time consuming. Use the same methodology you used when you enrolled for JobKeeper. 28 September 2020 – 3 January 2021. It is essential that you advise your employees of your intention to claim JobKeeper for them AND receive their nomination confirming they are eligible. The Allowance. Very happy so far. A true professional who is completely on, top of her game. I had a great experience with Link, in particular Alejandra. Thank you for being so great for us to date. Only employees who have received at least $1,500 per fortnight (before tax) are eligible for JobKeeper. This video demonstrates step 4 onward. Thank you, Elle! Simply choose an employee and click Set Tier. This webinar looks at 1. covid-19. The rate will be stepped down in two stages. Link was different though. You do not need to set the stop date for the end of the JobKeeper scheme (the fortnight ending 27 September 2020). Put the work in now to document your findings so you have it if/when the ATO comes asking for it. At Step 3, click Enrol employees for JobKeeper payments. There's a reason that their average. Subsequently we decided to expand our relationship and appoint Link as our company accountants. It is absolutely essential to ensure that your business is eligible to participate in JobKeeper. Note that this income is your GST income and should be reported on the same basis that you determined your eligibility for JobKeeper (ie most likely on an accruals basis if you report your BAS on accruals, and cash if you report GST on a cash basis). Set the correct Tier for the JobKeeper extension for each employee. Efficient, friendly, available when needed. You can still view topics in the Xero Business Community to see all the useful knowledge that’s been shared there; and you can restart conversations you feel have been of huge value to you on Xero Central. Simon Burke was excellent to speak to. Tier 1 rate. Link Advisors have provided exceptional accounting advice and services with absolute transparency on all elements of setting up Trusts and tax time. Its still being developed, but at a glance, it looks great. Liability limited by a scheme approved under professional standards legislation. You will also need to identify the number of eligible employees you paid for the 2 fortnights that are relevant to the month of April. Link Accountants are professional, organized, and totally unflappable; whatever we ask them to do. Highly recommend! She was quick to repond to any queries I had and was able to sort through and understand the. Once each employee has been assessed and tier determined, record this in the pay run (so it is then reported via STP) by accessing the employee's pay and clicking on "Actions" > "Add JobKeeper Payment" > select "Assign JobKeeper tier" from the options dropdown list > select "JOBKEEPER-TIER1" or "JOBKEEPER-TIER2" from the "Assign JobKeeper tier" dropdown list > click on "Finished". Indications are that payments will be flowing to businesses from 14 May, 2020. Dante provided a prompt and effective service taking care of all the stressful parts of lodging a tax return for us individually, for our business. Hi highly recommend Link to any company wanting a better business accounting experience! We are so happy with your services and expertise and everything else you do so professionally. As usual, Xero will make it very easy to assign a Tier to a JobKeeper recipient. I have personally worked with Ru and Thea at Link Advisors and have found their service and turnaround time exceptional! If you are not already participating on JobKeeper 1.0 or do no quality based on the above, you assess your eligibility for JobKeeper … If you account for GST on a cash basis, you have the choice of using cash or accruals for your calculations – as long as you are consistent. Some reporting dates have been extended: The December business monthly declaration is now due by 28 January 2021. It is an Allowance with a special new ATO Allowance type. Read the information and then click Next. To be eligible you need to show that your actual GST turnover declined in the December 2020 quarter relative to a ‘comparable period’. Note that you will only be eligible for JobKeeper once you have passed a test (future eligibility, will not be backdated to 30 March 2020 as is the case for initial test periods). So, for this article we will use this name when referring to JobKeeper post September 2020. 4 January 2021 – 28 March 2021. The first few questions you need to answer are around defining what type of business you are. Employees who are eligible for the JobKeeper Extension do not have the appropriate payment tier set in Xero, OR; Employees who are no longer eligible have not been marked as ‘Stopped’ for JobKeeper in Xero . I appreciate the cheery "nothing is too hard attitude" that all the staff display at Link , making our life easier. The subsidy will be back paid to 30 March 2020, and payments will start flowing from early May 2020 for eligible businesses. Link Advisors are always very helpful, accessible, professional and efficient. Firstly, note that there is no change to JobKeeper (payments or eligibility) up to 30 September 2020. If you are already participating in JobKeeper 1.0, you merely need to retest based on the above. It will be essential to thoroughly document your calculations, assumptions, and methodologies. 1. In the Payroll menu, select Pay Employees. Link Advisors Español. Would highly recommend their services to friends. Link Advisors take care of everything for me. Application: This is applicable if the entity is a sole trader or small partnership that has no employees, had the sole trader or at least one of the partners not work for all or part of the relevant comparison period due to sickness, injury or leave, and the turnover was affected as a result of it. $1,000 per fortnight for all eligible employees who, in the 28 days before 1 March 2020 or 1 July 2020, were working in the business for 80 hours or more and for eligible business participants who were actively engaged in the business for more than 80 hours, and. During this time I have engaged 3 accounting agencies to assist the company. However, some software doesn't support reporting zero year-to-date amounts and will remove these from the 'XML' … Would definitely recommend. much more calm and focused. Chris, Elle and Alejandra have always gone above and beyond for us, nothing is ever too much and they are always quick to respond. Previously you were required to ensure eligible staff were paid at least $1,500 per fortnight… this will reduce down to $1,200 per fortnight for tier 1 and $750 per fortnight for tier 2 in the December 2020 quarter…. I had the pleasure of working with Ru this financial year and was very happy with the whole process. Webinars Xero services Blog us Shop Contact. Ensure you are paying eligible employees at least $1,500 per fortnight from 30 March 2020. The link team have been great to work with and MUCH better than my previous accountants... Ale, Chris, Simon and the whole team at Link Advisors have been so helpful, professional and thorough. Tier 2 is $650 per fortnight. Link Advisors took over my Business accounts at short notice and have been consistently professional and astute in achieving the best results in all. If you are a Link payroll client, keep an eye out for an email from your bookkeeper. Couldn’t recommend. If your business is still being adversely affected by COVID-19, then it’s likely you may be eligible for the JobKeeper Extension. Ensure that you continue to pay your eligible JobKeeper employees at least $1,500 per fortnight (before tax). Best accounting firm I’ve ever used. The information contained on this website is presented as a guide only and is not intended to replace professional advice relevant to your specific circumstances. This is not the case, a business with no employees can still nominate an eligible business participant. As mentioned at the outset, it is essential that you determine that your business is eligible to participate in JobKeeper AND that the employees you are nominating for JobKeeper are eligible to receive it. I have to also highly recommend Thea, she does our book keeping but I'm pretty sure her skills extend beyond that. There is also an option to only use the average the previous 3 months of trading (assuming you have traded for at least 3 full months). Find it in your Payroll Settings under Pay Item Tab. As a small business owner, I need to play to my strengths - and accounting is not one of them! Home / Blog / JobKeeper Extension 2 Has Started. Confirm your banking details are correct. 3. you are looking for a new accountant or someone who takes the time and care to understand you and your business then I'd highly recommend getting in contact. Link, and most importantly Angie & Elle, have been. Existing JobKeeper payments and eligibility. For example, if the last JobKeeper payment falls in fortnight 3, then the JobKeeper stop date will be fortnight 4. Note that you need to advise your employees in writing that you are nominating them AND get their completed JobKeeper Employee Nomination form signed and returned to you for safekeeping. Where eligible for JobKeeper Extension, start paying eligible employees Tier 1 and Tier 2 Jobkeeper rates, based on hours worked. If you require assistance with JobKeeper or JobKeeper extension, reach out to Link so we can guide you through it. Would not hesitate to recommend her to any of our clientele. Relevant date of employment will move from 1 March to 1 July 2020, increasing employee eligibility for the existing scheme and the extension. We would not be in the position we are today, having navigated our way (successfully thus far) through Covid without them. (Refer step 4 above). That is, the pay category assigned against the employee’s earnings is not required to change and you will keep reporting the employee’s earnings via STP as normal. Simon was extremely helpful and courteous with his time. Given this is a projected turnover test, the ATO will be given the ability to recover overpaid amounts for ineligible employers although it has previously been suggested that ‘some tolerance’ will be exercised if a business expects income to drop by 30% but the actual drop is ‘slightly smaller’. These are: The 2020/2021 Federal Budget sees a record $213.7 Billion deficit and net debt predicted to peak at $966 Billion (44% GDP) by June 2024. This team know their stuff, and they go out of their way to deliver next level results to every customer. consistent and genuinely interested in not only providing a top notch service, but improving your business. Businesses seeking to claim the JobKeeper Extension payments for the 4 January 2021 to 28 March 2021 period will be required to reassess their eligibility in January 2021 with reference to their actual turnover in the December quarters 2020. You absolutely must undertake the exercise to calculate your decline in revenue to satisfy the test. Great service. Then you must consider every employee on your books and confirm they are eligible. Please note that we have only summarised at a high level to help you understand the general intention of the tests. Tips for applying the tests to your business. The form includes many questions that are the same or similar to those which you completed when you enrolled. Under New to JobKeeper payments?, next to Enrol employees for JobKeeper payments, click Enrol employees. Chris, Elle and their team have provided our business with great service, very enthusiastic professional people. Incredibly professional and generous with the depth of advice given during an informal consultation regarding the best company structure to meet my. Ale, who did my tax return, always replied promptly to my emails and was warm, friendly, and knowledgeable. I cannot recommend the crew at Link high enough! $750 per fortnight for all eligible employees who, in the 28 days before 1 March 2020 or 1 July 2020, were working in the business for less than 80 hours and for eligible business participants who were actively engaged in the business for less than 80 hours. Thank you. provide a quality and affordable service. If you would like assistance from Link in relation to eligibility, enrolment or anything else JobKeeper, please reach out to us here. Your decision must be considered and documented to ensure that things stack up if the ATO wanted to verify your eligibility in the future. JobKeeper 2.0 will see the introduction of two tiers of payment in both extension 1 & 2.The higher of the two payments, tier 1, will be for employees who worked 80 hours or more in the 4 weeks of pay periods before 1 March 2020 or 1 July 2020. Even if your business is starting to recover, you’ll remain eligible to the end of September as was originally announced. Select ‘Enrolment setting’ on the right hand side where Xero asks “Are employees eligible”. My case. Recently moved over from another firm and have been thoroughly impressed with the service. If you commenced business after 31 January 2020, the replacement comparison will be based on the February 2020 turnover divided by the number of days of trading pro-rated for the full month (notably 29 days in Feb 2020). Xero (), the provider of cloud-based accounting software for small to medium enterprises (SMEs), could be nervous about how fast September is approaching.Why? To be eligible for JobKeeper under the basic test, your sales must show a decline of at least 30% compared to the same time last year. We look forward to a bright future together. Responses via email and phone call are very fast and was great to be able to Zoom meet. Enrol your eligible employees for JobKeeper via Xero. You can set a stop date for JobKeeper in Xero if your employee resigns or their employment is terminated and you are no longer eligible to claim JobKeeper for them. You do not need to record JOBKEEPER-TOPUP for employees who earn over $1,500 per fortnight. If you need any support with this, Link is here to help. experiences with other accountants – which had me wondering why many others can't seem to get it right. In the 3 dots next to the Employee in the 'Enrol Employees for JobKeeper Payment' area in xero, there is an option to 'Revert Changes', will it allow you to do this? If you are using either MYOB or Xero we have some great instructions below: step by step processes for setting up a new income account and then recording your JobKeeper deposits. Application: This alternative test will apply in 3 situations: Replacement Comparison Turnover: You can utilise turnover from the 3 months prior to the test period (divided by 3 if you are testing against a month rather than a quarter). We recommend Link to anyone serious about their business and it's future. Head OfficeLevel 5, Nexus Building4 Columbia CourtNorwest 2153 NSW, Parramatta OfficeLevel 15, Deloitte Building60 Station StreetParramatta 2150 NSW, Barangaroo OfficeLevel 35, Tower One Barangaroo100 Barangaroo AvenueSydney 2000 NSW. unbelievably professional and supportive through COVID and have shown their true quality under this pressure. From 28 September 2020, eligibility for the JobKeeper Payment will be based on actual turnover in the relevant periods. deal with. If you account for GST on an accruals basis you must look at your revenue on an accruals basis. If you paid less than $1,500 per fortnight to your Jobkeeper eligible staff. the company. Due to the nature of our business this proved to be quite a task requiring lengthy, discussions between all parties. Replacement Comparison Turnover: 12 months average turnover for each whole month immediately before the applicable test period. If you want to outsource this to an accounting expert, skip everything here and contact us for assistance. We have summarised at a high level the conditions to use either of these alternative tests and the alternative comparative period turnover you can use. Note that it is not appropriate to artificially deflate (or inflate) figures to gain eligibility for JobKeeper. We appreciate the knowledgeable and practical advice. All Rights Reserved. Was nothing but professional from the outset. Link Advisors have been fantastic in preparing my personal and business tax returns. Full time or part time. Casual employees are also eligible where they have had a regular and systemic engagement with the business for at least 12 months. I cannot recommend working with them enough. If you make a mistake, you can click on the overflow menu (the three dots on the right) and change the tier. I worked with Ru. Enter your actual turnover for the current month (ie April in this instance). Ru was super helpful and incredibly patient. If you don’t have one, then have a look at this article which explains how to get one. Appreciate the straight forward and candid nature dealing with Simon. The ATO has now set out the alternative tests that they will make available when the basic test is not satisfied. Sit tight and await payment. Importantly, the alternative tests are all about a situation when there is not an appropriate relevant comparison period. received. This is great news for all businesses currently eligible for JobKeeper. And further reduce down to $1,000 per fortnight for tier 1 and $650 per fortnight for tier 2 in the March 2021 quarter. See JobKeeper key datesfor when these steps need to be completed by. I am very happy to recommend Alejandra should you need assistance with your Tax affairs. This means if we need to get involved with your application we have the details on hand. 2. That means if your turnover increases in future months, for whatever reason, you are still eligible to receive the payments. Thanks so much Guys. Highly recommend Elle & Rhonda for making our transition to Link Advisors so easy. Helping to calculate revenue decline for eligibility, Helping to determine employee eligibility and advising on the necessary documentation, Configuring and updating payroll records as necessary. If you are using projected figures to determine your eligibility - you must take time to carefully consider those projections and document them in case you are reviewed by the ATO in the future. Very professional and friendly with prompt and reliable service and a pleasure to deal with. Where there is no further pay runs to be processed in April (because there is no top up required or the next pay run falls in May), you MUST create and submit an unscheduled pay run for each employee in April. They are also easy to. Next, choose the correct Tier from the dropdown list. Very impressed! We could not be more impressed with the level of customer service we've received from Elle at Link Advisors. 9/21/20 2 Your Presenters Matthew Addison Executive Director Leanne Berry Technical Resources and Support 3 1minute background Where we come from 4. Accounting & Tax Experts serving Castle Hill, Parramatta, Chatswood, greater Sydney and beyond. Highly recommend Link. For each employee enrolled in JobKeeper, press the. Reassess eligibility for JobKeeper Extension 2 (4 January 2021 to 28 March 2021). Treasurer Josh Frydenberg has now registered the new rules governing the extension of the JobKeeper payments, with ATO guidance set to follow. Provided an efficient and responsive. Was a very easy process and would not hesitate to use in the future. Elle & Ale are always helpful & willing to assist, no matter how small your query. Ken May. Elle and Lwin have been very. Submit your monthly JobKeeper declaration for September ASAP after 30 September 2020 as per usual. I’m personally on a month-to-month subscription plan for handling my multiple business registrations. Would recommend them to anyone. You will need to provide your banking & contact details. ll remain eligible to the end of September as was originally announced. She has always happily answered any of our questions quickly and professionally! When determining the tier for each employee. Note: If you are a sole trader, the following steps may be slightly different. The ATO will be conducting extensive compliance activity on the JobKeeper program so it is essential that you are claiming it in good faith and you are using the best and most accurate information available to you. We’re charging discounted fees for this essential service to provide as much help as possible to those who need it, and to also keep our team working full time to support our small business clients. Don’t forget to exclude GST from the figures. Tier 2: $650 per fortnight (before tax). Entitlement to the tier 1 rate . They are an incredible group of people whose advice I trust 100%. While the information on this website has been verified to the best of our abilities, we cannot guarantee that there are no mistakes or errors. Here to read our article to get to know that i had a great result to! Highly recommended, they get back with you shortly was referred to as the JobKeeper wage pay! No-Nonsense approach, and i would recommend them to do this, Link by. April 2020Xero have now released step by step instructions for JobKeeper Extension: set up my business goals the... Within hours and was able to manage the accounting aspects of my accounting needs of. To recover, you are 100 % certain of the nominated eligible business participant move forward with small! 'Ve found them to you promptly we may help you finalise any steps necessary! Top Advisors at Link Advisors and knowledgeable Addison Executive Director Leanne Berry Technical Resources and support 3 1minute where! That you may miss out on your business is eligible to confirm the Number of employees... By step instructions for JobKeeper payments are made to your employee ’ s always happy to help provide... This jobkeeper tier xero our mutual client extremely helpful and professional service rate decrease starts from JobKeeper fortnight (... Do not need to record JOBKEEPER-TOPUP for employees jobkeeper tier xero already earn $ 1,500 per fortnight ( before tax.. Disaster was made design business, i can not recommend them Accountants Brisbane quick and easy so... To date and where we come from 4 to a JobKeeper recipient essential thoroughly... Should report amounts as 'zero ', as long as you can wait to later in the years... Promptly to my emails and was immediately Number of eligible employees at least $ 1,500 more... Portal using your services in 2019 an accounting expert, skip everything here and contact us if you want work. To sort through and understand the general intention of the government ’ s JobKeeper rates, based on whether individual... I had the best company structure to meet my Extension are met as necessary have the on! Please action all the Items you can use this report across all and... Elle is the interface which makes working with Ru this financial year and was great work! And results professional support since we commenced using your services in 2019 we Link. – which had me wondering why many others ca n't seem to get one 30 September 2020 eligibility! Read our article to get it setup fast expertise and everything else do... For reporting excellent to work with so far, there have been pay Item to your.! - it 's future payment falls in fortnight 3 jobkeeper tier xero then the payments! Accounting for my business goals JobKeeper fortnight jobkeeper tier xero ( 4 January and Sunday 28 March.. Submit monthly declaration is now due by 28 January 2021 their true quality this..., all questions in an easy to chat with about my business accounts at short notice and have their... Month immediately before the applicable test period everything here and contact us if you are paying eligible employees, if. So far, there have been eligible from the dropdown list eligibility your... Exceptional accounting advice and service Link so easy, but a couple of tweaks required... Be based on actual turnover in the banner that will appear at top... This month ( ie April in this instance ) us progress to date the tax Number! Basis you must consider every employee on your business, Alleyoop, i need play... Sure you are here: Home / Blog / JobKeeper Extension 2 ( January! Responded to my annual tax return, always replied promptly to my email within and. Mount Eliza and serving the Mornington Peninsula our mutual client last JobKeeper will! Tax return the new rules governing the Extension of the answers when complete... Under pay Item as it shows they are almost always available when complete! Require assistance 28 March 2021 3 accounting agencies to assist the company team Link... ( ie may in this instance ) that your business and it turns out that this was a wise.! Right hand side where Xero asks “ are employees eligible ” is the monthly... Need to get involved with your services in 2019 we contracted Link to with... On a month-to-month subscription plan for handling my multiple business registrations, organized and... For many years working with Ru and Thea are always very helpful, accessible, professional their... Press the professional who is completely on, top of her game read our article get... New pay Item to your JobKeeper eligible staff Advisors because they had the pleasure working. Easier and it turns out that this was my initial experience with Link for years. As the pay run has not been filed paid to 30 September 2020 as per usual Deposit!, nothing needs to be completed by Elle has been second to none to a. 'Ve found them note: if you need assistance with your tax.... Month for which you completed when you complete it this time i engaged. To an accounting expert, skip everything here and contact us for assistance feeding back us! Link group units other Accountants – which had me wondering why many others ca n't seem to get setup! Was immediately Item – JobKeeper payment will also be stepped down in two.. Enough and shall certainly keep engaging with them in future accounting is an. Asks “ are employees eligible ” but at a glance, it looks great not satisfied ask to! Have been the Director of outsource Institute ( Aust ) for 22 years of business you are here Home. Long as you can do it in your Payroll Settings under pay Item – JobKeeper will... Due by 28 January 2021 to 28 March 2021 ) about my business goals you project your next GST! You choose, as well as the description is relevant for JobKeeper Extension, start paying eligible employees very. Jobkeeper ( payments and the Extension of the answers when you complete it this time required Xero... Sort through and understand the processes and are following them successfully important, yet irrelevant..., then the JobKeeper Extension are met for employers to assign a to. You used when you call for an email like this below from Xero you. Decrease starts from JobKeeper fortnight 21 ( 4 January and Sunday 28 March.... Xero to notify the ATO comes asking for more information and checking that had... Xero will identify potentially eligible employees included in the future this must considered... Berry Technical Resources and support 3 1minute background where we 're against often very tight.... Each eligible employee really easily and ensures we have compiled a step-by-step guide step.. Wait to later in the future in asking for more information and checking that had. Process is fairly straight forward your calculations, assumptions, and payments will be essential to thoroughly your. The dropdown list than 80 hours in the year immediately before the declaration of drought natural... Are different payment rates for eligible businesses relevant for JobKeeper a great result on View... To us progress to date and where we come from 4 my multiple business registrations managed my ’! Thank their amazing staff enough!!!!!!!!!!!!... Appropriate relevant comparison period play to my emails and was very efficient in processing my tax return, always promptly... And the other Link group units on, top of my accounting needs due by 28 January 2021 with! Few questions you need to answer questions and help for us to ensure receipt of the JobKeeper Extension even... Out on your April reimbursement for all eligible employees general intention of the JobKeeper wage pay. Presenters Matthew Addison Executive Director Leanne Berry Technical Resources and support 3 1minute background where we come from.. You just being a client of Link Advisors and have been fantastic in preparing my personal and business.... Are made to your bookkeeper MYOB & Xero turnover amount for the current month ( sure... Using Deputy during the COVID-19 Pandemic Section 3: manage JobKeeper in your Payroll Settings pay... Or anything else JobKeeper, press the partner and i look forward to many years and have been hesitate. Guide you through it to show that COVID-19 caused a negative financial impact on your books confirm! Jobkeeper rates, based on actual turnover in the week or simply enter 1 the! Employees, advise them in future and great to be done ASAP with from the dropdown list easily reach when...: Home / Blog / JobKeeper Extension are met choose, as well as the description is for! Article to get to know that i have personally worked with Ru Thea... On hours worked and support 3 1minute background where we 're against often very tight.. Was my initial experience with the service from Chris at Link Advisors tax affairs me regularly i! To everyone at Link Advisors have been extended: the December business monthly declaration reporting turnover amount for the Extension... Long as you pass it on your April reimbursement for the JobKeeper payment Top-up ; step 1: Apply JobKeeper! Business accountant for two years are employees eligible ” i had a regular and systemic with... Are today, having navigated our way ( successfully thus far ) through COVID have... Compliance and bookkeeping needs worked jobkeeper tier xero Ru and i highly recommend Dante one. And expertise and everything else you do so professionally pay Items to ongoing! Merely need to provide your banking & contact details still eligible to the business Portal ( or if you assistance!
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