With ongoing economic uncertainty from COVID-19, today the Australian Government announced changes to the future of the JobKeeper scheme, taking the program until March 2021.
Below is an overview of the key dates and changes you should be across.
Business Eligibility
In order to be eligible for the JobKeeper Payment after 27 September 2020, businesses will have to meet a further decline in turnover test for each of the two periods, as well as meeting the other existing eligibility requirements for the JobKeeper Payment.
In order to be eligible for the first JobKeeper Payment extension period of 28 September 2020 to 3 January 2021, businesses will need to demonstrate that their actual GST turnover has significantly fallen in the both the June quarter 2020 (April, May and June) and the September quarter 2020 (July, August, September) relative to comparable periods (generally the corresponding quarters in 2019).
In order to be eligible for the second JobKeeper Payment extension period of 4 January 2021 to 28 March 2021, businesses will again need to demonstrate that their actual GST turnover has significantly fallen in each of the June, September and December 2020 quarters relative to comparable periods (generally the corresponding quarters in 2019).
Businesses and not-for-profits will generally be able to assess eligibility based on details reported in the Business Activity Statement (BAS).
A detailed government fact sheet with further details can be accessed here.
September 2020 – January 2021
The JobKeeper payments will be reduced from 28 September 2020 until 4 January 2021 to:
1. A flat rate of $1,200 per fortnight for eligible employees who work more than 20 hours per week.
2. A flat rate of $750 per fortnight for eligible employees who work less than 20 hours per week.
January 2021 – March 2021
The JobKeeper payments will be further adjusted from 4 January 2021 until 28 March 2021 to:
1. A flat rate of $1,000 per fortnight for eligible employees who work more than 20 hours per week.
2. A flat rate of $650 per fortnight for eligible employees who work less than 20 hours per week.
For more information on the topic, please contact us on 1300 887 458 and speak with one of our HR Consultants. If you are interested in learning more about our HR services, including HR Outsourcing, HR Consulting, HR Advisory Services, contact us at enquiries@liquidhr.com.au.
