Covid

JobKeeper Update


Wednesday 29th July, 2020 Blog, COVID-19

Latest Updates for JobKeeper – August 2020

  • The Australian Government is extending the JobKeeper payment by a further six months to March 2021. Support will be targeted to businesses that continue to be significantly impacted by Coronavirus.
  • The payment rate of $1,500 per fortnight for eligible employees and business participants will be reduced to $1,200 per fortnight from 28 September 2020 to $1,000 per fortnight from 04 Jan 2021
  • From 28 September 2020, lower payment rates will apply for employees and business participants that worked fewer than 20 hours per week.
  • From 28 September 2020, businesses will be required to reassess their eligibility with reference to their actual GST turnover in the June and September quarters 2020. They will need to demonstrate that they have met the relevant decline in turnover test in both of those quarters to be eligible for the JobKeeper payment from 28 September 2020 to 3 January 2021.
  • From 4 January 2021, businesses and not-for-profits will need to further reassess their turnover to be eligible for the JobKeeper Payment. They will need to demonstrate that they have met the relevant decline in turnover test with reference to their actual GST turnover in each of the June, September and December quarters 2020 to remain eligible for the JobKeeper Payment from 4 January 2021 to 28 March 2021.
  • To be eligible for JobKeeper Payments under the extension, businesses will still need to demonstrate that they have experienced a decline in turnover of: • 50 per cent for those with an aggregated turnover of more than $1 billion; • 30 per cent for those with an aggregated turnover of $1 billion or less

The JobKeeper Payment Rate

From 28 September 2020 to 3 January 2021, the JobKeeper Payment rates will be: 

  • $1,200 per fortnight for all eligible employees who, in the four weeks of pay periods before 1 March 2020, were working in the business for 20 hours or more a week on average, and for eligible business participants who were actively engaged in the business for 20 hours or more per week on average in the month of February 2020; 
  • $750 per fortnight for other eligible employees and business participants. From 4 January 2021 to 28 March 2021, the JobKeeper Payment rates will be: 
  • $1,000 per fortnight for all eligible employees who, in the four weeks of pay periods before 1 March 2020, were working in the business for 20 hours or more a week on average and for business participants who were actively engaged in the business for 20 hours or more per week on average in the month of February 2020; and
  • $650 per fortnight for other eligible employees and business participants.

To be eligible for JobKeeper Payments under the extension, businesses will need to demonstrate that they have experienced the following decline in turnover (which remains the same as existing rules): 

  • 50 per cent for those with an aggregated turnover of more than $1 billion;
  • 30 per cent for those with an aggregated turnover of $1 billion or less

Contact us now for more information and to see if you are eligible.