JobKeeper 2.0 – Five Things You Need to Know
We welcome the announced extensions to the JobKeeper Scheme. Here are the top 5 things you need to know:
- All Existing JobKeeper payment arrangements remain in place until 27 September 2020, as previously legislated.
- From 28 September 2020, businesses will need to reassess their claim for JobKeeper. Businesses will be required to demonstrate an actual 30%* decline in GST Turnover in both the June and September quarters compared to the 2019 year.
- From 4 January 2021, businesses will need to reassess their claim for JobKeeper by showing a 30% decline in the December quarter in addition to the declines shown at item 2.
- The JobKeeper program will remain open to new participants who meet the criteria.
- The JobKeeper payment rate will be reduced as follows:
||From 28 September to 3 January 2021:
|From 4 January 2021 to 28 March 2021:
$1,000.00 per fortnight
||$750.00 per fortnight||$650.00 per fortnight|
Further detailed commentary will be available in the coming weeks. Follow this link for more information: Treasury Legislation – JobKeeper Payment Extension.
Please call us on 07 3844 5555 to discuss with a Macro team member today.
*For charities it is 15%.
Date published: 21 July 2020