The Government has announced today (21 July 2020) that the JobKeeper payment will be extended until 28 March 2021. It is hoped that this will keep more Australian’s in work and support the businesses significantly impacted by the pandemic.

When the current scheme ends on 27th September 2020, eligibility will be reassessed based on the actual decline in GST turnover, and payment amounts will be stepped down with two tiers of payment introduced.

Summary of changes:

  • The existing JobKeeper scheme will continue until 27 September 2020 and remains unchanged.
  • From 28 September 2020, employers seeking to claim JobKeeper payments will need to reassess their eligibility based on actual turnover.
  • Organisations need to demonstrate a continuing decline of turnover in the June and September quarters 2020, to be eligible for the period 28 September 2020 – 3 January 2021
  • Further reassessments will be made for the period 4 January to 28 March 2021 JobKeeper payments
  • From 28 September 2020 to 3 January 2021, the payment rate will be $1,200 per fortnight for all eligible employees working 20+ hours on average, in the four weeks of pay periods before 1 March 2020, and $750 per fortnight for those working less that 20 hours a week on average.
  • For the period 4 January 2021 to 28 March 2021, this payment will be reduced to $1000 per fortnight for eligible employees working 20+ hours and $650 per fortnight for those working less that 20 hours.

For detailed information, please click here to view the Government fact sheet which covers eligibility, payment rates, additional turnover tests, employee’s eligibility rules and retesting turnover examples.

Please do not hesitate to contact Bruno de Paiva, our expert on all JobKeeper matters! You can him direct on 0414 800 171 or email bruno@taxproaustralia.com.au. For all other enquiries, please call the office on 08 9240 7629.

 

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