NEWSFLASH – JOBKEEPER EXTENSION

Posted on 21st July 2020 by Chris Grieve

Prime Minister Scott Morrison and Treasurer Josh Frydenberg have announced that the current $1,500 per fortnight JobKeeper payment will be reduced to $1,200 per fortnight from 28 September, and $750 per fortnight for employees working less than 20 hours a week.

From 4 January, the rates will again reduce to $1,000 per fortnight, and $650 for people working less than 20 hours a week with the support ending on 28 March 2021.

NEW ELIGIBILITY TESTS

Treasury also announced a revised eligibility test for businesses looking to remain on JobKeeper beyond September.

Businesses will still be required to demonstrate the required reduction in turnover- 30 per cent for businesses with turnovers of $1 billion or less, 50 per cent for those with turnover of more than $1 billion, and 15 per cent for ACNC-registered charities.  However, the government will now require businesses to reapply the tests for the June and September quarters to be eligible for extended version of JobKeeper beyond September.

We will continue to monitor the announcements as more detail for eligibility tests are released and advise you accordingly.

If you or someone you know requires assistance please contact our office on (08) 9316 7000 and we would be happy to assist.