The Government has today announced the extension of the JobKeeper Payment Scheme for a further six months. There are important changes to the scheme which will affect all participants. We have summarised the changes outlined thus far below:
Note: The current stage of JobKeeper scheme ends 28 September 2020.
From 29 September 2020:
- Business will need to re-test their Decline in turnover on a retrospective basis (Actual reduction of 30% in both June 2020 and September 2020 Quarters), rather than the prospective basis (“Expected fall”) which the original scheme tested.
- Full-Time rate of JobKeeper Payment will reduce from the current $1,500/fortnight to $1,200/fortnight.
- A new, Part-Time rate of $750/fortnight will apply to employees working less than 20 hours a week.
- This stage runs until 3 January 2021.
From 4 January 2021:
- Business will again need to re-test their Decline in turnover on a retrospective basis (Actual reduction of 30% in each of June 2020, September 2020 and December 2020 Quarters).
- Full-Time rate of JobKeeper Payment will reduce further from $1,200/fortnight to $1,000/fortnight.
- The Part-Time rate of $750/fortnight will reduce to $600/fortnight.
- This stage will terminate at the end of the March Quarter i.e. 28 March 2021.
For further information please contact Noe, Oggy, Michelle or Lucinda from our office or email firstname.lastname@example.org.
Date of Issue: 21 July 2020 Author: Noé Vicca
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