KEEPING UP TO DATE
JobKeeper Payment Update
6 August 2020
On 21 July 2020, the Australian Government announced that due to the ongoing COVID-19 crisis, the JobKeeper Payment scheme will be extended by a further six months until 28 March 2021, from the original end date of 27 September 2020.
This time the payment will target supporting those businesses and not-for-profits which continue to be significantly impacted by Covid-19.
From the 28th September 2020 eligibility for the JobKeeper Payment will be based on actual turnover in the relevant periods. The payments will also now be reduced and paid at two rates.
The eligibility rules for employees remains unchanged.
The eligibility requirements for businesses and not for profits remain unchanged from the original requirements for JobKeeper. Businesses and not for profits will need to reassess their eligibility to apply for an extension to JobKeeper payments, they need to prove that that they have continued to have a significant decline in revenue for the previous quarters.
To remain eligible businesses and not for profits need to demonstrate:
50% decline (turnover of more than $1 billion)
30% decline (turnover of $1 billion or less)
15% decline (Charities and NFPs)
From 28th September 2020:
Businesses and not-for-profits will be required to reassess their eligibility
Eligibility is based on actual turnover in the June and September quarters 2020
Businesses and not-for-profits need to demonstrate they have met the decline in turnover test in both of those quarters to continue to be eligible from 28th September 2020 to 3rd January 2021
From January 2021:
Business and not for profits will be required to reassess again for the period from the 4th January to the 28th March 2021
Businesses and not-for-profits will need to demonstrate they have continued to have a decline in turnover for these three quarters to remain eligible.
New JobKeeper Payment rate
From 28th September 2020 to 3rd January 2021:
$1,200 per fortnight – working 20 hours+ a week in the four weeks before 1st March 2020
$750 per fortnight – working less than 20 hours a week for the same period
From 4th January 2021 to 28th March 2021:
$1,000 per fortnight – working 20 hours+ a week in the four weeks before 1st March 2020
$650 per fortnight – working less than 20 hours a week for the same period
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