JobKeeper Extension

JobKeeper Extension: What this means to business and employees

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JobKeeper extension has been announced by the government. Payment for JobKeeper is now extended until 28 March 2021 for businesses and not-for-profit organisations severely affected by the COVID-19 pandemic.

The payment extension, however, will be reduced and paid at two rates. Test on eligibility will also be based on the turnover on relevant periods.

 

JobKeeper Extension Payment Rates

The two payment rates are based on the number of hours worked in the four weeks before 1 March 2020.

  • From 28 September 2020 to 3 January 2021
    • $1,200 per fortnight (those worked 20 hours or more per week on average)
    • $750 per fortnight (those who worked below 20 hours per week on average)
  • From 4 January to 28 March 2021 –
    • $1,000 per fortnight (those worked 20 hours or more per week on average)
    • $650 per fortnight (those who worked below 20 hours per week on average)

 

Business Eligibility

Business and organisations are eligible if they satisfy the decline in turnover test or if they have a reduced turnover of 30 per cent or 50 per cent depending on business size, and of 15 per cent for charities.

  • From 28 September to 3 January

To be eligible for the JobKeeper extension for the period 28 September 2020 to 3 January 2021, business, including self-employed and not-for-profit organisations, are required to meet the decline in turnover test in June and September quarters.

  • From 4 January to 28 March

To be eligible for the next year, business, including self-employed and not-for-profit organisations, are required to further reassess their eligibility for JobKeeper and demonstrate that they meet the decline in turnover test in June, September and December quarters.

Related:  Debunking the lies of Investment Properties and SMSF's. 

 

JobKeeper Extension Impact on Employees

If you’re an employee, the JobKeeper extension means you’ll continue to receive JobKeeper payments until 28 March 2021, though at reduced rates.

Casual and part-time employees with work hours of 20 hours below will receive $750 per fortnight from 28 September 2020 to 3 January 2021, and $650 per fortnight for the March quarter next year.

Full-time employees are eligible to receive $1,200 per fortnight payment, which will be reduced to $1,000 per fortnight for the March quarter.

 

More information is available in the JobKeeper Payment extension fact sheet. You can also contact us if you have more questions. We’d be glad to assist you.

 


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