The Federal Government has recently announced that they will be extending JobKeeper Payments until 28 March 2021. The existing JobKeeper Payment of $1,500 will remain in place until 27 September 2020, however, the extension to this subsidy will see some significant changes.
From 28 September 2020:
- Businesses will be required to reassess their eligibility
- Full time employees will have their JobKeeper payment reduced to $1,200 per fortnight
- employees working less than 20 hours a week will have their payment reduced to $750 per fortnight
From 28 September, businesses will be required to show an actual decline in turnover for the June and September quarters to qualify for JobKeeper 2.0. This turnover test will be conducted using actual GST turnover rather than projected GST turnover.
From 4 January 2021, businesses will need to further reassess their turnover to demonstrate that they have met the decline in turnover test for each of the June, September and December 2020 quarters.
Further Information is available in the JobKeeper Payment extension fact sheet here.
For the clients in which we have been handling JobKeeper, we will be in contact to discuss what these changes mean for you and your business. For those that would like our assistance with JobKeeper 2.0, please don’t hesitate to give us a call.