JobKeeper extension updates

The Government’s plans to extend JobKeeper until March 2021 passed through Parliament this week.

For the next stage of JobKeeper – from 28 September until 28 March 2021 – there will be a two-tiered payment:

• For the December quarter, payments will be $1,200 per fortnight per employee, or $750 for workers who were employed for less than 20 hours a week.
• For the March quarter, payments will be $1,000 per fortnight per employee, or $650 for workers who were employed for less than 20 hours a week.

The existing JobKeeper Payment will remain in place until 27 September 2020.

From 28 September 2020, businesses seeking to claim JobKeeper Payment will be required to re-assess their eligibility for the JobKeeper extension with reference to their actual turnover. 

To be eligible for JobKeeper Payments under the extension, businesses and not-for-profits 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; or
• 30 per cent for those with an aggregated turnover of $1 billion or less 

Please click here to read the ATO’s JobKeeper extension Fact Sheet.

Further details about these measures are available at treasury.gov.au