+61 7 3844 5555

We welcome the announced extensions to the JobKeeper Scheme. Here are the top 5 things you need to know:

 

  1. All Existing JobKeeper payment arrangements remain in place until 27 September 2020, as previously legislated.
  2. 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.
  3. 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.
  1. The JobKeeper program will remain open to new participants who meet the criteria.
  1. The JobKeeper payment rate will be reduced as follows:

 

  • All eligible employees who, in the four weeks of pay periods before 1 March 2020, were working in the business or not-for-profit for 20 hours or more a week on average, and for eligible business participants who were actively engaged in the business for 20 hours or more per week on average in the month of February 2020
From 28 September to 3 January 2021:

$1,200.00 per
fortnight

From 4 January 2021 to 28 March 2021:

$1,000.00 per fortnight

  • All other eligible employees and business participants
$750.00 per fortnight $650.00 per fortnight

 

Further detailed commentary will be available in the coming weeks. Follow this link for more informationTreasury 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

220 Melbourne Street
, SOUTH BRISBANE QLD 4101

Social
Call

AUS +61 7 3844 5555

US +1 949 209 9449

Email

admin@macrogroup.com.au

Locations

AUS
Level 1, Suite 4

220 Melbourne Street

South Brisbane QLD 4101

US
Suite 1300

2030 Main Street
Irvine, CA 92614, USA